Community Health Systems (NYSE:CYH) Announces Earnings Results

Community Health Systems (NYSE:CYH) posted its quarterly earnings results on Wednesday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.14), Briefing.com reports. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. Community Health Systems’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned ($0.33) EPS. Community Health Systems updated its FY24 guidance to $(0.60)-$(0.50) EPS and its FY 2024 guidance to -0.600–0.500 EPS.

Community Health Systems Stock Down 6.1 %

NYSE:CYH traded down $0.26 during trading hours on Friday, hitting $3.99. 5,166,316 shares of the stock were exchanged, compared to its average volume of 1,800,804. The company’s 50 day moving average is $5.54 and its two-hundred day moving average is $4.34. The company has a market capitalization of $554.47 million, a P/E ratio of -4.21 and a beta of 1.55. Community Health Systems has a twelve month low of $2.01 and a twelve month high of $6.29.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CYH. Royal Bank of Canada reiterated an “outperform” rating and set a $6.00 target price on shares of Community Health Systems in a research report on Monday, August 12th. Barclays upped their price target on Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research report on Thursday. Wells Fargo & Company boosted their target price on shares of Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Truist Financial cut their price target on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a report on Friday. Finally, Oppenheimer raised their price objective on shares of Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Community Health Systems presently has an average rating of “Hold” and a consensus target price of $5.18.

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.