Wall Street brokerages expect that Tenet Healthcare Corp (NYSE:THC) will report sales of $4.89 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Tenet Healthcare’s earnings. The highest sales estimate is $5.00 billion and the lowest is $4.79 billion. Tenet Healthcare reported sales of $4.86 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 0.6%. The firm is expected to report its next earnings report after the market closes on Monday, February 26th.
According to Zacks, analysts expect that Tenet Healthcare will report full-year sales of $4.89 billion for the current year, with estimates ranging from $19.00 billion to $19.19 billion. For the next fiscal year, analysts anticipate that the company will post sales of $17.99 billion per share, with estimates ranging from $17.84 billion to $18.14 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Tenet Healthcare.
Several equities analysts have recently weighed in on THC shares. Jefferies Group set a $20.00 price objective on shares of Tenet Healthcare and gave the company a “buy” rating in a report on Monday, October 30th. Citigroup upgraded shares of Tenet Healthcare from a “neutral” rating to a “buy” rating in a report on Tuesday, December 12th. Leerink Swann reiterated a “buy” rating and set a $27.00 price objective on shares of Tenet Healthcare in a report on Wednesday, December 20th. Morgan Stanley dropped their price objective on shares of Tenet Healthcare from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, November 9th. Finally, Mizuho reiterated a “hold” rating on shares of Tenet Healthcare in a report on Friday, November 10th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Tenet Healthcare has an average rating of “Hold” and an average target price of $18.36.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Flinton Capital Management LLC grew its position in Tenet Healthcare by 65.7% in the 2nd 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 in the last quarter. Pentwater Capital Management LP bought a new stake in Tenet Healthcare in the 3rd quarter worth about $164,000. Russell Investments Group Ltd. grew its position in Tenet Healthcare by 182.6% in the 3rd 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 in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Tenet Healthcare in the 3rd quarter worth about $183,000. Finally, Sterling Capital Management LLC bought a new stake in Tenet Healthcare in the 3rd quarter worth about $227,000.
Shares of Tenet Healthcare (THC) traded up $0.43 during midday trading on Friday, hitting $18.03. 2,541,340 shares of the stock traded hands, compared to its average volume of 2,310,000. Tenet Healthcare has a 52-week low of $12.25 and a 52-week high of $22.72. The firm has a market capitalization of $1,820.00, a price-to-earnings ratio of -3.28, a P/E/G ratio of 3.45 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.28 and a debt-to-equity ratio of 21.21.
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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