Tenet Healthcare (THC) Set to Announce Quarterly Earnings on Tuesday

Tenet Healthcare (NYSE:THC) will post its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Tenet Healthcare to post earnings of $1.41 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. The firm had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.96 earnings per share. On average, analysts expect Tenet Healthcare to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Tenet Healthcare Price Performance

NYSE THC opened at $94.85 on Tuesday. The stock has a market capitalization of $9.41 billion, a P/E ratio of 16.61, a P/E/G ratio of 2.99 and a beta of 2.08. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51. The business’s fifty day moving average is $97.56 and its two-hundred day moving average is $79.67. Tenet Healthcare has a 1 year low of $51.04 and a 1 year high of $107.80.

Insider Activity at Tenet Healthcare

In related news, EVP Paola M. Arbour sold 18,168 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the transaction, the executive vice president now owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the transaction, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,268 shares of company stock valued at $4,944,810. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on THC shares. Mizuho increased their price target on Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Wolfe Research upgraded shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target on the stock in a report on Wednesday, March 27th. Royal Bank of Canada raised their price objective on shares of Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Barclays started coverage on Tenet Healthcare in a report on Wednesday, March 6th. They issued an “overweight” rating and a $113.00 target price for the company. Finally, Wells Fargo & Company upped their price target on Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $100.38.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.