Equities research analysts expect Community Health Systems (NYSE:CYH) to report ($0.52) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Community Health Systems’ earnings, with estimates ranging from ($0.80) to ($0.22). Community Health Systems posted earnings of ($1.64) per share in the same quarter last year, which would suggest a positive year over year growth rate of 68.3%. The firm is expected to announce its next earnings report on Monday, November 4th.
According to Zacks, analysts expect that Community Health Systems will report full year earnings of ($1.80) per share for the current fiscal year, with EPS estimates ranging from ($2.23) to ($1.21). For the next financial year, analysts anticipate that the firm will report earnings of ($1.20) per share, with EPS estimates ranging from ($1.88) to ($0.78). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Community Health Systems.
Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.47) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.05. The business had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the prior year, the business posted ($0.01) earnings per share. Community Health Systems’s quarterly revenue was down 7.3% compared to the same quarter last year.
CYH has been the subject of several recent analyst reports. Piper Jaffray Companies set a $3.00 price target on Community Health Systems and gave the stock a “sell” rating in a research note on Wednesday, August 7th. ValuEngine upgraded Community Health Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada reissued a “hold” rating and set a $5.00 price target on shares of Community Health Systems in a report on Thursday, August 8th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $3.68.
In other Community Health Systems news, CEO Wayne T. Smith purchased 1,200,000 shares of Community Health Systems stock in a transaction dated Thursday, August 29th. The shares were purchased at an average cost of $1.99 per share, for a total transaction of $2,388,000.00. Following the completion of the acquisition, the chief executive officer now owns 3,132,082 shares in the company, valued at approximately $6,232,843.18. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Benjamin C. Fordham purchased 25,000 shares of Community Health Systems stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average price of $1.85 per share, for a total transaction of $46,250.00. Following the completion of the acquisition, the executive vice president now owns 184,416 shares of the company’s stock, valued at approximately $341,169.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 1,250,000 shares of company stock worth $2,491,500. Company insiders own 4.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Balyasny Asset Management LLC purchased a new stake in shares of Community Health Systems in the second quarter worth approximately $29,000. Royal Bank of Canada raised its holdings in shares of Community Health Systems by 72.6% in the second quarter. Royal Bank of Canada now owns 12,377 shares of the company’s stock worth $33,000 after buying an additional 5,205 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Community Health Systems in the second quarter worth approximately $61,000. Creative Planning purchased a new stake in shares of Community Health Systems in the second quarter worth approximately $147,000. Finally, Thoroughbred Financial Services LLC raised its holdings in shares of Community Health Systems by 240.2% in the second quarter. Thoroughbred Financial Services LLC now owns 74,466 shares of the company’s stock worth $7,447,000 after buying an additional 52,576 shares during the period. Hedge funds and other institutional investors own 96.42% of the company’s stock.
NYSE CYH opened at $4.06 on Wednesday. The stock’s 50 day moving average is $3.21 and its 200 day moving average is $2.97. The firm has a market capitalization of $473.39 million, a PE ratio of -2.09 and a beta of 2.37. Community Health Systems has a twelve month low of $1.79 and a twelve month high of $5.35.
Community Health Systems Company Profile
Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company 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.
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