Zacks: Analysts Expect Community Health Systems, Inc. (NYSE:CYH) Will Post Quarterly Sales of $2.98 Billion

Wall Street analysts expect Community Health Systems, Inc. (NYSE:CYH) to post sales of $2.98 billion for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Community Health Systems’ earnings, with the lowest sales estimate coming in at $2.93 billion and the highest estimate coming in at $3.02 billion. Community Health Systems reported sales of $2.52 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.3%. The firm is scheduled to issue its next earnings report on Tuesday, July 27th.

According to Zacks, analysts expect that Community Health Systems will report full-year sales of $12.14 billion for the current year, with estimates ranging from $12.01 billion to $12.24 billion. For the next year, analysts forecast that the business will post sales of $12.64 billion, with estimates ranging from $12.56 billion to $12.70 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Community Health Systems.

Community Health Systems (NYSE:CYH) last posted its earnings results on Tuesday, April 27th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.53. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Community Health Systems had a net margin of 3.64% and a negative return on equity of 15.87%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.59) earnings per share.

CYH has been the subject of a number of recent analyst reports. Credit Suisse Group raised shares of Community Health Systems from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $4.10 to $10.00 in a research report on Friday, April 30th. Royal Bank of Canada upgraded shares of Community Health Systems from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $12.00 to $21.00 in a research note on Thursday. Truist upped their price target on shares of Community Health Systems from $9.00 to $12.00 in a research note on Wednesday, April 14th. Finally, Jefferies Financial Group raised shares of Community Health Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $11.00 to $18.00 in a report on Wednesday, May 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $12.42.

In other Community Health Systems news, Director William Norris Jennings sold 30,000 shares of Community Health Systems stock in a transaction that occurred on Tuesday, June 1st. The shares were sold at an average price of $15.51, for a total transaction of $465,300.00. Following the transaction, the director now owns 67,112 shares of the company’s stock, valued at $1,040,907.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CYH. Ensign Peak Advisors Inc increased its position in Community Health Systems by 0.8% during the first quarter. Ensign Peak Advisors Inc now owns 95,200 shares of the company’s stock valued at $1,287,000 after acquiring an additional 800 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Community Health Systems by 60.6% in the first quarter. Captrust Financial Advisors now owns 2,447 shares of the company’s stock worth $33,000 after purchasing an additional 923 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Community Health Systems by 28.3% in the fourth quarter. Lazard Asset Management LLC now owns 7,229 shares of the company’s stock worth $53,000 after purchasing an additional 1,596 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Community Health Systems in the first quarter worth about $28,000. Finally, The PNC Financial Services Group Inc. grew its holdings in shares of Community Health Systems by 12.8% in the first quarter. The PNC Financial Services Group Inc. now owns 17,544 shares of the company’s stock worth $237,000 after purchasing an additional 1,987 shares during the last quarter. Institutional investors own 82.65% of the company’s stock.

Shares of NYSE:CYH traded down $0.48 during midday trading on Tuesday, hitting $16.17. 30,916 shares of the company’s stock were exchanged, compared to its average volume of 2,638,490. The business’s 50 day moving average price is $12.98. The stock has a market cap of $2.14 billion, a P/E ratio of 4.57, a PEG ratio of 2.53 and a beta of 1.94. Community Health Systems has a 12 month low of $2.68 and a 12 month high of $17.04.

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.

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Earnings History and Estimates for Community Health Systems (NYSE:CYH)

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