Community Health Systems (NYSE:CYH) Announces Quarterly Earnings Results

Community Health Systems (NYSE:CYH) posted its earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.05, Briefing.com reports. Community Health Systems had a negative return on equity of 5.51% and a negative net margin of 0.99%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the company earned ($0.43) earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. Community Health Systems updated its FY 2024 guidance to -0.650–0.050 EPS.

Community Health Systems Trading Up 4.3 %

Community Health Systems stock traded up $0.14 during mid-day trading on Friday, reaching $3.39. The stock had a trading volume of 2,505,350 shares, compared to its average volume of 1,730,550. Community Health Systems has a fifty-two week low of $2.01 and a fifty-two week high of $6.53. The stock’s 50-day simple moving average is $3.06 and its 200-day simple moving average is $3.06.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CYH. Oppenheimer lowered their price objective on Community Health Systems from $5.50 to $4.50 and set an “outperform” rating for the company in a research report on Thursday. Barclays began coverage on Community Health Systems in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $3.00 price objective for the company. StockNews.com upgraded Community Health Systems from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, Truist Financial raised their target price on Community Health Systems from $3.25 to $3.75 and gave the stock a “hold” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.05.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It 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.