Equities analysts forecast that Tenet Healthcare Corp (NYSE:THC) will announce earnings per share of $0.41 for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Tenet Healthcare’s earnings. The highest EPS estimate is $1.33 and the lowest is ($0.17). Tenet Healthcare posted earnings per share of $0.58 in the same quarter last year, which suggests a negative year-over-year growth rate of 29.3%. The company is expected to announce its next earnings results on Monday, November 2nd.
On average, analysts expect that Tenet Healthcare will report full-year earnings of $3.85 per share for the current financial year, with EPS estimates ranging from $1.17 to $5.23. For the next year, analysts expect that the business will report earnings of $2.54 per share, with EPS estimates ranging from $1.70 to $4.29. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Tenet Healthcare.
Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $1.97. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.83 billion. Tenet Healthcare had a negative net margin of 0.28% and a positive return on equity of 82.35%. The firm’s revenue for the quarter was down 20.0% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS.
A number of equities analysts have recently commented on THC shares. Citigroup reduced their price objective on shares of Tenet Healthcare from $35.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Truist raised their price objective on shares of Tenet Healthcare from $21.00 to $30.00 in a report on Friday, August 14th. Royal Bank of Canada raised their price objective on shares of Tenet Healthcare from $30.00 to $35.00 in a report on Friday, September 4th. Mizuho reduced their price objective on shares of Tenet Healthcare from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, May 29th. Finally, Deutsche Bank increased their target price on shares of Tenet Healthcare from $25.00 to $28.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $29.00.
NYSE:THC opened at $29.58 on Thursday. The company has a 50-day moving average of $28.19 and a 200-day moving average of $22.03. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -58.00, a PEG ratio of 4.43 and a beta of 2.46. Tenet Healthcare has a 52 week low of $10.00 and a 52 week high of $39.37. The company has a debt-to-equity ratio of 24.85, a quick ratio of 1.36 and a current ratio of 1.42.
Institutional investors and hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC acquired a new stake in Tenet Healthcare in the 2nd quarter valued at about $26,000. Rosenberg Matthew Hamilton acquired a new stake in Tenet Healthcare in the 2nd quarter valued at about $36,000. PNC Financial Services Group Inc. increased its position in Tenet Healthcare by 62.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the company’s stock valued at $37,000 after acquiring an additional 787 shares in the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in Tenet Healthcare in the 1st quarter valued at about $46,000. Finally, Advisor Group Holdings Inc. acquired a new stake in Tenet Healthcare in the 1st quarter valued at about $57,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.
Tenet Healthcare Company Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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