Research Analysts Set Expectations for Community Health Systems, Inc.’s Q3 2024 Earnings (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH) – Investment analysts at Zacks Research reduced their Q3 2024 earnings per share estimates for shares of Community Health Systems in a note issued to investors on Wednesday, May 8th. Zacks Research analyst K. Dey now anticipates that the company will post earnings of ($0.15) per share for the quarter, down from their prior estimate of ($0.14). The consensus estimate for Community Health Systems’ current full-year earnings is ($0.32) per share. Zacks Research also issued estimates for Community Health Systems’ Q4 2024 earnings at $0.05 EPS, FY2024 earnings at ($0.33) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.02 EPS, Q4 2025 earnings at $0.07 EPS and FY2025 earnings at $0.04 EPS.

Community Health Systems (NYSE:CYH) last released its earnings results on Wednesday, April 24th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. Community Health Systems had a negative return on equity of 5.51% and a negative net margin of 0.99%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the company posted ($0.43) earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year.

Several other equities research analysts have also commented on the stock. StockNews.com raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Oppenheimer dropped their target price on Community Health Systems from $5.50 to $4.50 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Truist Financial boosted their price target on Community Health Systems from $3.25 to $3.75 and gave the company a “hold” rating in a report on Friday, April 26th. Finally, Barclays initiated coverage on shares of Community Health Systems in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $3.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.05.

Community Health Systems Price Performance

CYH stock opened at $3.23 on Monday. The company has a market capitalization of $448.87 million, a P/E ratio of -3.40 and a beta of 1.55. Community Health Systems has a 12 month low of $2.01 and a 12 month high of $5.20. The firm’s fifty day simple moving average is $3.12 and its 200-day simple moving average is $3.11.

Institutional Trading of Community Health Systems

Several institutional investors have recently bought and sold shares of CYH. Vanguard Group Inc. lifted its position in shares of Community Health Systems by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock valued at $28,436,000 after buying an additional 28,669 shares in the last quarter. Invesco Ltd. lifted its holdings in Community Health Systems by 16.4% during the third quarter. Invesco Ltd. now owns 6,239,749 shares of the company’s stock valued at $18,095,000 after purchasing an additional 879,784 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Community Health Systems by 14.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,583,032 shares of the company’s stock valued at $17,475,000 after purchasing an additional 701,036 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Community Health Systems by 20.5% during the third quarter. Teacher Retirement System of Texas now owns 1,715,268 shares of the company’s stock worth $4,974,000 after purchasing an additional 292,351 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Community Health Systems by 5.0% in the 1st quarter. First Eagle Investment Management LLC now owns 1,657,121 shares of the company’s stock valued at $5,800,000 after buying an additional 79,000 shares in the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.