Equities researchers at FBR Capital Markets began coverage on shares of Tenet Healthcare Corp. (NYSE:THC) in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating and a $49.00 price target on the stock. FBR Capital Markets’ target price would suggest a potential upside of 17.48% from the stock’s previous close.
Tenet Healthcare Corp. (NYSE:THC) traded up 2.72% during mid-day trading on Friday, hitting $42.845. 666,229 shares of the company’s stock traded hands. Tenet Healthcare Corp. has a 52-week low of $24.85 and a 52-week high of $49.47. The stock has a 50-day moving average of $44.74 and a 200-day moving average of $43.86. The company’s market cap is $4.353 billion.
Tenet Healthcare Corp. (NYSE:THC) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts expect that Tenet Healthcare Corp. will post $1.95 EPS for the current fiscal year.
THC has been the subject of a number of other recent research reports. Analysts at Wells Fargo & Co. downgraded shares of Tenet Healthcare Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday. Separately, analysts at Deutsche Bank cut their price target on shares of Tenet Healthcare Corp. from $65.00 to $60.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Barclays initiated coverage on shares of Tenet Healthcare Corp. in a research note to investors on Tuesday, October 15th. They set an “overweight” rating and a $55.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $48.79.
Tenet Healthcare Corporation (NYSE:THC), along with its subsidiaries, is an investor-owned health care services company whose subsidiaries and affiliates primarily operated 49 hospitals, 117 outpatient centers and Conifer Health Solutions (Conifer), which provides business process solutions to more than 600 hospital and other clients nationwide.
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