Tenet Healthcare (NYSE:THC) Updates Q2 2021 Earnings Guidance


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Tenet Healthcare (NYSE:THC) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.690-1.390 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.810. The company issued revenue guidance of $4.65 billion-$4.85 billion, compared to the consensus revenue estimate of $4.69 billion.Tenet Healthcare also updated its FY 2021 guidance to 4.120-5.460 EPS.

A number of equities research analysts have commented on THC shares. UBS Group lifted their target price on shares of Tenet Healthcare from $37.00 to $60.00 and gave the stock a buy rating in a research report on Thursday, January 21st. Citigroup upped their price target on shares of Tenet Healthcare from $58.00 to $65.00 in a research report on Thursday, April 22nd. Bank of America upgraded Tenet Healthcare from a neutral rating to a buy rating and boosted their price objective for the company from $45.00 to $50.00 in a research note on Tuesday, January 5th. Mizuho increased their price target on Tenet Healthcare from $48.00 to $55.00 and gave the stock a buy rating in a research note on Friday, April 9th. Finally, Royal Bank of Canada boosted their price target on shares of Tenet Healthcare from $57.00 to $66.00 and gave the stock an outperform rating in a research note on Thursday, April 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $51.58.

NYSE:THC traded up $1.00 during trading hours on Tuesday, hitting $63.30. 25,469 shares of the stock were exchanged, compared to its average volume of 1,086,214. The company has a market cap of $6.74 billion, a P/E ratio of -487.85, a P/E/G ratio of 8.49 and a beta of 2.66. The firm’s fifty day moving average price is $53.83 and its 200 day moving average price is $44.28. Tenet Healthcare has a 52-week low of $15.19 and a 52-week high of $63.13. The company has a current ratio of 1.34, a quick ratio of 1.28 and a debt-to-equity ratio of 29.81.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Monday, April 19th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.50. Tenet Healthcare had a positive return on equity of 82.39% and a negative net margin of 0.07%. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.73 billion. During the same quarter last year, the firm posted $1.28 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts expect that Tenet Healthcare will post 4.27 EPS for the current fiscal year.

In related news, CFO Daniel J. Cancelmi sold 70,700 shares of the company’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $56.80, for a total value of $4,015,760.00. Following the completion of the sale, the chief financial officer now owns 399,500 shares in the company, valued at approximately $22,691,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Glenview Capital Management, L sold 2,500,000 shares of the company’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $53.30, for a total value of $133,250,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,836,392 shares of company stock valued at $151,959,533 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

About Tenet Healthcare

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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Earnings History and Estimates for Tenet Healthcare (NYSE:THC)

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