Brokerages Expect Tenet Healthcare Corp (THC) Will Post Earnings of $1.29 Per Share

Equities research analysts predict that Tenet Healthcare Corp (NYSE:THC) will announce earnings per share (EPS) of $1.29 for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Tenet Healthcare’s earnings, with estimates ranging from $1.23 to $1.52. Tenet Healthcare posted earnings of $0.06 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 2,050%. The firm is expected to report its next earnings report on Monday, February 26th.

On average, analysts expect that Tenet Healthcare will report full year earnings of $0.69 per share for the current year, with EPS estimates ranging from $0.63 to $0.91. For the next year, analysts anticipate that the company will report earnings of $0.95 per share, with EPS estimates ranging from $0.78 to $1.29. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Friday, October 27th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.21. Tenet Healthcare had a negative return on equity of 5.61% and a negative net margin of 2.85%.

Several research analysts have issued reports on THC shares. Royal Bank of Canada reiterated a “hold” rating and set a $19.00 price objective on shares of Tenet Healthcare in a research note on Monday, September 25th. Robert W. Baird reiterated a “buy” rating and set a $23.00 price objective on shares of Tenet Healthcare in a research note on Thursday, September 28th. SunTrust Banks set a $15.00 price objective on Tenet Healthcare and gave the stock a “hold” rating in a research note on Sunday, October 15th. Jefferies Group set a $20.00 price objective on Tenet Healthcare and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, Credit Suisse Group started coverage on Tenet Healthcare in a research note on Thursday, November 2nd. They set a “neutral” rating and a $15.00 price objective for the company. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $18.50.

Tenet Healthcare (NYSE:THC) traded up $0.96 during trading on Friday, reaching $17.24. The company’s stock had a trading volume of 3,899,194 shares, compared to its average volume of 2,670,000. The company has a quick ratio of 1.21, a current ratio of 1.28 and a debt-to-equity ratio of 21.21. Tenet Healthcare has a 1 year low of $12.25 and a 1 year high of $22.72. The firm has a market capitalization of $1,740.00, a price-to-earnings ratio of -3.13, a P/E/G ratio of 3.39 and a beta of 1.17.

In other news, Director George Fredrick Smitherman sold 1,300 shares of the firm’s stock in a transaction on Monday, January 15th. The stock was sold at an average price of $38.50, for a total value of $50,050.00. Company insiders own 3.10% of the company’s stock.

Large investors have recently made changes to their positions in the company. Riverhead Capital Management LLC increased its stake in shares of Tenet Healthcare by 67.3% in the second quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock valued at $152,000 after buying an additional 3,161 shares in the last quarter. Flinton Capital Management LLC increased its position in Tenet Healthcare by 65.7% in the second quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after purchasing an additional 3,128 shares during the period. Pentwater Capital Management LP acquired a new stake in Tenet Healthcare in the third quarter worth about $164,000. Russell Investments Group Ltd. increased its position in Tenet Healthcare by 182.6% in the third quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after purchasing an additional 6,800 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Tenet Healthcare in the third quarter worth about $183,000.

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About Tenet Healthcare

Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.

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Earnings History and Estimates for Tenet Healthcare (NYSE:THC)

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