$4.89 Billion in Sales Expected for Tenet Healthcare Corp (THC) This Quarter

Brokerages expect Tenet Healthcare Corp (NYSE:THC) to post $4.89 billion in sales for the current quarter, according to Zacks. Eight analysts have provided estimates for Tenet Healthcare’s earnings, with estimates ranging from $4.79 billion to $5.00 billion. Tenet Healthcare reported sales of $4.86 billion in the same quarter last year, which indicates a positive year over year growth rate of 0.6%. The business is expected to announce its next quarterly earnings results on Monday, February 26th.

According to Zacks, analysts expect that Tenet Healthcare will report full year sales of $4.89 billion for the current financial year, with estimates ranging from $19.00 billion to $19.19 billion. For the next financial year, analysts anticipate that the business will report sales of $17.99 billion per share, with estimates ranging from $17.84 billion to $18.14 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last released its earnings results on Friday, October 27th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.21. Tenet Healthcare had a negative net margin of 2.85% and a negative return on equity of 5.61%. The business had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.73 billion.

A number of research firms have recently issued reports on THC. Robert W. Baird restated a “buy” rating and set a $23.00 price target on shares of Tenet Healthcare in a report on Thursday, September 28th. Zacks Investment Research upgraded shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. JPMorgan Chase & Co. lowered shares of Tenet Healthcare from a “neutral” rating to an “underweight” rating and set a $15.00 price target on the stock. in a report on Thursday, December 14th. Morgan Stanley lowered shares of Tenet Healthcare from an “equal weight” rating to an “underweight” rating and set a $14.00 price target on the stock. in a report on Wednesday, December 20th. Finally, Mizuho restated a “hold” rating on shares of Tenet Healthcare in a report on Friday, November 10th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Tenet Healthcare currently has a consensus rating of “Hold” and an average target price of $18.50.

Shares of Tenet Healthcare (NYSE:THC) opened at $18.10 on Tuesday. 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 fifty-two week low of $12.25 and a fifty-two week high of $22.72. The company has a market cap of $1,820.00, a P/E ratio of -3.29, a P/E/G ratio of 3.36 and a beta of 1.17.

In other Tenet Healthcare news, Director George Fredrick Smitherman sold 1,300 shares of the company’s stock in a transaction that occurred on Monday, January 15th. The shares were sold at an average price of $38.50, for a total value of $50,050.00. 3.10% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Harris Associates L P grew its position in Tenet Healthcare by 1.4% in the second quarter. Harris Associates L P now owns 7,733,435 shares of the company’s stock worth $149,565,000 after acquiring an additional 108,070 shares in the last quarter. Vanguard Group Inc. grew its position in Tenet Healthcare by 6.2% in the second quarter. Vanguard Group Inc. now owns 6,995,269 shares of the company’s stock worth $135,289,000 after acquiring an additional 407,910 shares in the last quarter. FMR LLC grew its position in Tenet Healthcare by 36.9% in the second quarter. FMR LLC now owns 3,724,713 shares of the company’s stock worth $72,036,000 after acquiring an additional 1,004,700 shares in the last quarter. State Street Corp grew its position in Tenet Healthcare by 25.4% in the second quarter. State Street Corp now owns 2,926,533 shares of the company’s stock worth $56,603,000 after acquiring an additional 593,520 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Tenet Healthcare by 18.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,530,802 shares of the company’s stock worth $41,579,000 after acquiring an additional 389,144 shares in the last quarter.

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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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