Tenet Healthcare Corporation (NYSE:THC) Releases FY17 Earnings Guidance

Tenet Healthcare Corporation (NYSE:THC) issued an update on its FY17 earnings guidance on Monday morning. The company provided EPS guidance of $0.69-0.99 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.20. The company issued revenue guidance of $19.1-19.4 billion, compared to the consensus revenue estimate of $19.74 billion.

Shares of Tenet Healthcare Corporation (NYSE:THC) traded up 14.23% during midday trading on Friday, hitting $14.45. 12,079,290 shares of the company were exchanged. The company has a 50-day moving average of $17.36 and a 200 day moving average of $17.86. The company’s market capitalization is $1.46 billion. Tenet Healthcare Corporation has a one year low of $12.54 and a one year high of $24.96.

Tenet Healthcare Corporation (NYSE:THC) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative net margin of 0.97% and a negative return on equity of 2.00%. The business had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the business posted $0.38 earnings per share. Tenet Healthcare Corporation’s revenue was up 204.1% compared to the same quarter last year. On average, equities research analysts expect that Tenet Healthcare Corporation will post $0.82 earnings per share for the current fiscal year.

THC has been the subject of a number of research reports. Zacks Investment Research raised shares of Tenet Healthcare Corporation from a hold rating to a strong-buy rating and set a $21.00 target price for the company in a report on Monday, July 10th. Royal Bank Of Canada reissued a hold rating and issued a $25.00 target price on shares of Tenet Healthcare Corporation in a report on Tuesday, July 18th. Credit Suisse Group increased their target price on shares of Tenet Healthcare Corporation from $18.00 to $20.00 and gave the stock a neutral rating in a report on Monday, May 15th. ValuEngine cut shares of Tenet Healthcare Corporation from a hold rating to a sell rating in a report on Friday, June 2nd. Finally, Mizuho reissued a neutral rating and issued a $18.00 target price on shares of Tenet Healthcare Corporation in a report on Sunday, April 23rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $22.67.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by BNB Daily and is the sole property of of BNB Daily. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.baseball-news-blog.com/2017/08/19/tenet-healthcare-corporation-nysethc-releases-fy17-earnings-guidance-updated.html.

Tenet Healthcare Corporation Company Profile

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.

Earnings History and Estimates for Tenet Healthcare Corporation (NYSE:THC)

Receive News & Ratings for Tenet Healthcare Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply