Wall Street brokerages forecast that Tenet Healthcare Corp (NYSE:THC) will report ($0.02) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Tenet Healthcare’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at ($0.10). Tenet Healthcare posted earnings per share of ($0.27) in the same quarter last year, which would suggest a positive year-over-year growth rate of 92.6%. The firm is expected to issue its next earnings report on Monday, May 7th.
On average, analysts expect that Tenet Healthcare will report full-year earnings of $0.92 per share for the current year, with EPS estimates ranging from $0.81 to $1.03. For the next financial year, analysts forecast that the firm will post earnings of $1.70 per share, with EPS estimates ranging from $1.08 to $2.37. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Tenet Healthcare.
Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Monday, February 26th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.15. Tenet Healthcare had a negative net margin of 3.67% and a positive return on equity of 9.69%. The firm had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a report on Tuesday. William Blair reiterated a “market perform” rating on shares of Tenet Healthcare in a research report on Tuesday, November 21st. Wells Fargo & Co upped their target price on Tenet Healthcare from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Raymond James Financial upgraded Tenet Healthcare from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Wednesday, February 28th. Finally, Jefferies Group set a $23.00 target price on Tenet Healthcare and gave the company a “buy” rating in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Tenet Healthcare presently has an average rating of “Hold” and a consensus target price of $20.56.
Tenet Healthcare (THC) traded down $0.51 on Tuesday, hitting $24.16. 1,836,307 shares of the stock traded hands, compared to its average volume of 2,568,336. Tenet Healthcare has a 12-month low of $12.25 and a 12-month high of $24.89. The company has a current ratio of 1.29, a quick ratio of 1.22 and a debt-to-equity ratio of 27.44. The firm has a market capitalization of $2,444.79, a P/E ratio of -3.46, a P/E/G ratio of 2.08 and a beta of 1.07.
In related news, Director George Fredrick Smitherman acquired 125,000 shares of the stock in a transaction on Thursday, January 25th. The shares were acquired at an average price of $38.50 per share, for a total transaction of $4,812,500.00. In the last 90 days, insiders sold 54,600 shares of company stock worth $94,146. Insiders own 3.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Tenet Healthcare by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 659,123 shares of the company’s stock worth $9,992,000 after purchasing an additional 3,302 shares in the last quarter. BerganKDV Wealth Management LLC boosted its position in Tenet Healthcare by 7.9% in the 4th quarter. BerganKDV Wealth Management LLC now owns 47,968 shares of the company’s stock worth $727,000 after purchasing an additional 3,523 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Tenet Healthcare by 3.7% during the 3rd quarter. Rhumbline Advisers now owns 145,741 shares of the company’s stock worth $2,395,000 after buying an additional 5,163 shares during the period. American International Group Inc. raised its stake in shares of Tenet Healthcare by 3.0% during the 3rd quarter. American International Group Inc. now owns 219,526 shares of the company’s stock worth $3,607,000 after buying an additional 6,372 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Tenet Healthcare by 32.4% during the 4th quarter. First Trust Advisors LP now owns 27,572 shares of the company’s stock worth $418,000 after buying an additional 6,741 shares during the period.
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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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