Community Health Systems (NYSE:CYH) Updates FY 2024 Earnings Guidance

Community Health Systems (NYSE:CYH) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of -0.450–0.300 for the period, compared to the consensus earnings per share estimate of -0.310. The company issued revenue guidance of $12.5 billion-$12.7 billion, compared to the consensus revenue estimate of $12.5 billion.

Community Health Systems Stock Up 8.4 %

NYSE CYH traded up $0.40 during trading on Friday, hitting $5.16. The stock had a trading volume of 3,602,210 shares, compared to its average volume of 1,896,450. The company has a market capitalization of $717.09 million, a PE ratio of -5.31 and a beta of 1.52. The firm has a 50 day moving average price of $3.61 and a 200 day moving average price of $3.43. Community Health Systems has a twelve month low of $2.01 and a twelve month high of $5.20.

Community Health Systems (NYSE:CYH) last released its earnings results on Wednesday, July 24th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.05). The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.10 billion. Community Health Systems’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.22) earnings per share. On average, sell-side analysts anticipate that Community Health Systems will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CYH has been the subject of a number of analyst reports. Oppenheimer boosted their price objective on Community Health Systems from $4.50 to $5.00 and gave the stock an outperform rating in a research report on Thursday. Truist Financial boosted their price objective on Community Health Systems from $3.75 to $4.25 and gave the stock a hold rating in a research report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $4.25.

Community Health Systems Company Profile

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.