Tenet Healthcare (NYSE:THC) Updates FY 2021 Earnings Guidance

Share on StockTwits

Tenet Healthcare (NYSE:THC) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 4.120-5.460 for the period, compared to the Thomson Reuters consensus estimate of $4.180. The company issued revenue guidance of $19.40 billion-$19.80 billion, compared to the consensus revenue estimate of $19.40 billion.Tenet Healthcare also updated its Q2 2021 guidance to 0.690-1.390 EPS.

A number of research firms have weighed in on THC. Citigroup boosted their target price on shares of Tenet Healthcare from $58.00 to $65.00 in a research note on Thursday, April 22nd. The Goldman Sachs Group initiated coverage on Tenet Healthcare in a report on Monday. They issued a buy rating for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on Tenet Healthcare from $58.00 to $65.00 in a report on Thursday, April 22nd. Bank of America upgraded shares of Tenet Healthcare from a neutral rating to a buy rating and raised their price objective for the company from $45.00 to $50.00 in a report on Tuesday, January 5th. Finally, Barclays boosted their target price on shares of Tenet Healthcare from $55.00 to $62.00 in a report on Friday, April 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Tenet Healthcare presently has a consensus rating of Buy and a consensus target price of $51.58.

Tenet Healthcare stock traded up $1.00 during midday trading on Tuesday, reaching $63.30. The stock had a trading volume of 25,469 shares, compared to its average volume of 1,086,214. The company has a current ratio of 1.34, a quick ratio of 1.28 and a debt-to-equity ratio of 29.81. Tenet Healthcare has a 12 month low of $15.19 and a 12 month high of $63.13. The company has a fifty day moving average price of $53.83 and a two-hundred day moving average price of $44.28. The company has a market capitalization of $6.74 billion, a P/E ratio of -486.92, a PEG ratio of 8.49 and a beta of 2.66.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Monday, April 19th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.50. Tenet Healthcare had a negative net margin of 0.07% and a positive return on equity of 82.39%. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.73 billion. During the same period in the previous year, the firm earned $1.28 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts predict that Tenet Healthcare will post 4.27 earnings per share for the current fiscal year.

In related news, CFO Daniel J. Cancelmi sold 70,700 shares of Tenet Healthcare stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $56.80, for a total value of $4,015,760.00. Following the completion of the transaction, the chief financial officer now directly owns 399,500 shares in the company, valued at approximately $22,691,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Glenview Capital Management, L sold 122,090 shares of the stock in a transaction on Wednesday, April 21st. The stock was sold at an average price of $55.32, for a total value of $6,754,018.80. The disclosure for this sale can be found here. Insiders sold 2,836,392 shares of company stock valued at $151,959,533 in the last quarter. Corporate insiders own 1.70% of the company’s stock.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

Further Reading: How are capital gains distributions different for tax-deferred account?

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.