$1.30 EPS Expected for Tenet Healthcare Corp (THC) This Quarter

Analysts expect Tenet Healthcare Corp (NYSE:THC) to post earnings of $1.30 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Tenet Healthcare’s earnings. The lowest EPS estimate is $1.23 and the highest is $1.52. Tenet Healthcare reported earnings of $0.06 per share during the same quarter last year, which indicates a positive year over year growth rate of 2,066.7%. The business is scheduled to announce its next quarterly earnings report after the market closes on Monday, February 26th.

According to Zacks, 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 financial year, analysts forecast that the firm will report earnings of $0.91 per share, with EPS estimates ranging from $0.63 to $1.29. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.23. The firm had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.94 billion. Tenet Healthcare had a negative net margin of 2.85% and a negative return on equity of 5.61%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS.

THC has been the topic of several research reports. JPMorgan Chase & Co. lowered shares of Tenet Healthcare from a “neutral” rating to an “underweight” rating and set a $15.00 price objective on the stock. in a research note on Thursday, December 14th. ValuEngine lowered shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Citigroup upgraded shares of Tenet Healthcare from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 12th. Zacks Investment Research upgraded shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, William Blair reiterated a “market perform” rating on shares of Tenet Healthcare in a research note on Tuesday, November 21st. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $18.36.

Tenet Healthcare (NYSE THC) opened at $18.30 on Thursday. The firm has a market cap of $1,850.00, a P/E ratio of -3.33, a price-to-earnings-growth ratio of 3.32 and a beta of 1.24. The company has a debt-to-equity ratio of 21.21, a current ratio of 1.28 and a quick ratio of 1.21. Tenet Healthcare has a 12 month low of $12.25 and a 12 month high of $22.72.

In other news, Director George Fredrick Smitherman sold 1,300 shares of the stock in a transaction on Monday, January 15th. The shares were sold at an average price of $38.50, for a total transaction of $50,050.00. In the last 90 days, insiders have sold 54,600 shares of company stock worth $94,146. 3.10% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Flinton Capital Management LLC boosted its holdings in shares of Tenet Healthcare by 65.7% during the 2nd quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after buying an additional 3,128 shares during the period. Pentwater Capital Management LP bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth $164,000. Russell Investments Group Ltd. boosted its holdings in shares of Tenet Healthcare by 182.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after buying an additional 6,800 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth $183,000. Finally, Sterling Capital Management LLC bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth $227,000.

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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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