Wall Street brokerages expect that Tenet Healthcare Corp (NYSE:THC) will post sales of $4.49 billion for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Tenet Healthcare’s earnings, with the highest sales estimate coming in at $4.53 billion and the lowest estimate coming in at $4.26 billion. Tenet Healthcare reported sales of $4.98 billion during the same quarter last year, which indicates a negative year over year growth rate of 9.8%. The business is expected to issue its next quarterly earnings results on Monday, February 25th.
According to Zacks, analysts expect that Tenet Healthcare will report full year sales of $18.18 billion for the current year, with estimates ranging from $17.96 billion to $18.23 billion. For the next fiscal year, analysts anticipate that the business will report sales of $17.93 billion, with estimates ranging from $17.01 billion to $18.48 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Tenet Healthcare.
Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Monday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.18. Tenet Healthcare had a negative net margin of 0.61% and a positive return on equity of 47.38%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same period last year, the business earned ($0.17) earnings per share. Tenet Healthcare’s revenue was down 2.1% compared to the same quarter last year.
THC has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research cut shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Thursday. Deutsche Bank initiated coverage on shares of Tenet Healthcare in a research report on Thursday, January 3rd. They set a “hold” rating and a $20.00 price target for the company. Barclays reiterated a “hold” rating and set a $20.00 price target on shares of Tenet Healthcare in a research report on Sunday, January 6th. Finally, Robert W. Baird reiterated a “buy” rating and set a $35.00 price target on shares of Tenet Healthcare in a research report on Wednesday, November 7th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $31.44.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in shares of Tenet Healthcare in the second quarter valued at approximately $929,000. Fox Run Management L.L.C. purchased a new position in Tenet Healthcare in the third quarter worth approximately $483,000. NumerixS Investment Technologies Inc purchased a new position in Tenet Healthcare in the second quarter worth approximately $166,000. Acadian Asset Management LLC lifted its stake in Tenet Healthcare by 695.3% in the third quarter. Acadian Asset Management LLC now owns 332,691 shares of the company’s stock worth $9,468,000 after acquiring an additional 290,861 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in Tenet Healthcare by 48.6% in the third quarter. Schroder Investment Management Group now owns 62,894 shares of the company’s stock worth $1,790,000 after acquiring an additional 20,581 shares during the last quarter.
Tenet Healthcare stock traded up $0.17 during midday trading on Friday, hitting $21.69. 941,799 shares of the stock were exchanged, compared to its average volume of 1,976,550. Tenet Healthcare has a fifty-two week low of $15.40 and a fifty-two week high of $39.74. The stock has a market cap of $2.15 billion, a P/E ratio of 26.78, a PEG ratio of 0.58 and a beta of 1.34. The company has a current ratio of 1.06, a quick ratio of 0.99 and a debt-to-equity ratio of 21.55.
About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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