Wall Street analysts expect that Tenet Healthcare Corporation (NYSE:THC) will announce earnings of ($0.17) per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Tenet Healthcare Corporation’s earnings. The highest EPS estimate is ($0.07) and the lowest is ($0.38). Tenet Healthcare Corporation reported earnings of $0.38 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 144.7%. The company is scheduled to issue its next earnings results after the market closes on Monday, August 7th.
On average, analysts expect that Tenet Healthcare Corporation will report full year earnings of $1.19 per share for the current fiscal year, with EPS estimates ranging from $1.10 to $1.39. For the next financial year, analysts expect that the firm will report earnings of $1.63 per share, with EPS estimates ranging from $1.12 to $1.96. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Tenet Healthcare Corporation.
Tenet Healthcare Corporation (NYSE:THC) last posted its earnings results on Monday, May 1st. The company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.25. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.84 billion. Tenet Healthcare Corporation had a negative net margin of 0.92% and a positive return on equity of 2.94%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS.
A number of research analysts recently issued reports on THC shares. Jefferies Group LLC reiterated a “buy” rating and issued a $26.00 target price (down from $28.00) on shares of Tenet Healthcare Corporation in a research note on Saturday, April 29th. Wells Fargo & Company raised shares of Tenet Healthcare Corporation from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Tuesday, June 6th. Zacks Investment Research raised shares of Tenet Healthcare Corporation from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a report on Monday, July 10th. Leerink Swann raised shares of Tenet Healthcare Corporation from a “market perform” rating to an “outperform” rating and set a $27.00 price target for the company in a report on Tuesday, June 6th. Finally, Morgan Stanley initiated coverage on shares of Tenet Healthcare Corporation in a report on Tuesday, June 6th. They issued an “equal weight” rating and a $19.00 price target for the company. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $23.57.
Tenet Healthcare Corporation (NYSE THC) traded up 2.23% during trading on Friday, hitting $21.11. 1,960,806 shares of the company traded hands. The firm has a 50 day moving average of $18.81 and a 200 day moving average of $18.18. The firm’s market cap is $2.12 billion. Tenet Healthcare Corporation has a one year low of $14.06 and a one year high of $31.64.
Several hedge funds have recently made changes to their positions in the company. Harris Associates L P boosted its stake in Tenet Healthcare Corporation by 2.2% in the first quarter. Harris Associates L P now owns 7,625,365 shares of the company’s stock worth $135,046,000 after buying an additional 166,100 shares during the last quarter. Vanguard Group Inc. increased its stake in Tenet Healthcare Corporation by 2.5% in the first quarter. Vanguard Group Inc. now owns 6,587,359 shares of the company’s stock worth $116,662,000 after buying an additional 160,814 shares during the last quarter. FMR LLC increased its stake in Tenet Healthcare Corporation by 6.2% in the first quarter. FMR LLC now owns 2,720,013 shares of the company’s stock worth $48,171,000 after buying an additional 159,700 shares during the last quarter. State Street Corp increased its stake in Tenet Healthcare Corporation by 1.2% in the first quarter. State Street Corp now owns 2,333,013 shares of the company’s stock worth $41,316,000 after buying an additional 27,898 shares during the last quarter. Finally, North Tide Capital LLC purchased a new stake in Tenet Healthcare Corporation during the first quarter worth $35,420,000.
About Tenet Healthcare Corporation
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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