Tenet Healthcare Corp (THC) Expected to Post Quarterly Sales of $4.49 Billion

Share on StockTwits

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.

Read More: Book Value Per Share – BVPS

Get a free copy of the Zacks research report on Tenet Healthcare (THC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Tenet Healthcare Corp  Expected to Post Quarterly Sales of $4.49 Billion
Tenet Healthcare Corp Expected to Post Quarterly Sales of $4.49 Billion
Zacks: Brokerages Anticipate Nielsen Holdings PLC  Will Post Quarterly Sales of $1.65 Billion
Zacks: Brokerages Anticipate Nielsen Holdings PLC Will Post Quarterly Sales of $1.65 Billion
Invesco Financial Preferred ETF  Sees Unusually-High Trading Volume
Invesco Financial Preferred ETF Sees Unusually-High Trading Volume
G-III Apparel Group  Trading Up 7.3%
G-III Apparel Group Trading Up 7.3%
Zacks Investment Research Downgrades LightPath Technologies  to Sell
Zacks Investment Research Downgrades LightPath Technologies to Sell
Trimble  Upgraded to “Overweight” at JPMorgan Chase & Co.
Trimble Upgraded to “Overweight” at JPMorgan Chase & Co.


Leave a Reply

 
© 2006-2019 Zolmax.