Community Health Systems (NYSE:CYH) Issues Quarterly Earnings Results, Misses Estimates By $0.31 EPS

Community Health Systems (NYSE:CYH) posted its quarterly earnings results on Tuesday. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.31), FiscalAI reports. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.89 billion. Community Health Systems had a net margin of 4.08% and a negative return on equity of 11.38%.

Community Health Systems Trading Down 3.0%

Shares of NYSE CYH traded down $0.10 during mid-day trading on Tuesday, reaching $3.05. 2,095,758 shares of the company’s stock were exchanged, compared to its average volume of 1,556,566. The firm has a market capitalization of $430.40 million, a price-to-earnings ratio of 0.81 and a beta of 1.97. The business has a fifty day simple moving average of $3.21 and a 200 day simple moving average of $3.28. Community Health Systems has a twelve month low of $2.34 and a twelve month high of $4.47.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CYH shares. Weiss Ratings cut Community Health Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 19th. Zacks Research upgraded Community Health Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. UBS Group raised their target price on Community Health Systems from $3.60 to $3.70 and gave the stock a “neutral” rating in a report on Friday, February 20th. Wells Fargo & Company reduced their target price on Community Health Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a report on Wednesday, January 7th. Finally, Truist Financial reduced their target price on Community Health Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.45.

Institutional Investors Weigh In On Community Health Systems

A number of hedge funds have recently modified their holdings of CYH. Royal Bank of Canada raised its position in shares of Community Health Systems by 601.9% during the fourth quarter. Royal Bank of Canada now owns 9,286 shares of the company’s stock worth $29,000 after purchasing an additional 7,963 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Community Health Systems during the fourth quarter worth about $34,000. Quarry LP acquired a new stake in shares of Community Health Systems during the third quarter worth about $39,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Community Health Systems during the third quarter worth about $44,000. Finally, Oxford Asset Management LLP acquired a new stake in Community Health Systems in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

About Community Health Systems

Community Health Systems, Inc (NYSE: CYH) is one of the largest publicly traded hospital operators in the United States. Headquartered in Franklin, Tennessee, the company owns, leases and manages general acute care hospitals and outpatient facilities, primarily in non-urban and mid-market communities. CHS is focused on delivering locally accessible healthcare services through its network of affiliated hospitals, clinics and post-acute providers.

The company’s core offerings include inpatient medical and surgical care, emergency services, critical care, diagnostic imaging and laboratory testing.