Zacks: Brokerages Anticipate Community Health Systems (NYSE:CYH) to Announce -$0.49 Earnings Per Share

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Equities research analysts expect Community Health Systems (NYSE:CYH) to announce earnings of ($0.49) per share for the current quarter, according to Zacks. Eight analysts have issued estimates for Community Health Systems’ earnings, with the lowest EPS estimate coming in at ($0.68) and the highest estimate coming in at ($0.21). Community Health Systems posted earnings per share of ($0.01) in the same quarter last year, which suggests a negative year over year growth rate of 4,800%. The company is scheduled to report its next earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Community Health Systems will report full year earnings of ($1.66) per share for the current year, with EPS estimates ranging from ($1.80) to ($1.31). For the next financial year, analysts expect that the company will report earnings of ($0.96) per share, with EPS estimates ranging from ($1.78) to $0.17. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Community Health Systems.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.09). The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.30 billion. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 EPS.

CYH has been the topic of several research analyst reports. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Zacks Investment Research lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Finally, Barclays set a $24.00 target price on Tenet Healthcare and gave the company a “hold” rating in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $3.61.

In related news, CEO Wayne T. Smith bought 993,449 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average cost of $3.37 per share, with a total value of $3,347,923.13. Following the acquisition, the chief executive officer now owns 1,959,566 shares in the company, valued at approximately $6,603,737.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Wayne T. Smith bought 323,084 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $3.32 per share, with a total value of $1,072,638.88. Following the completion of the acquisition, the chief executive officer now owns 1,959,566 shares in the company, valued at approximately $6,505,759.12. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 1,420,533 shares of company stock valued at $4,753,242. 4.50% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Community Health Systems by 8.6% during the fourth quarter. BlackRock Inc. now owns 17,024,671 shares of the company’s stock worth $48,008,000 after acquiring an additional 1,346,891 shares in the last quarter. Millennium Management LLC increased its position in Community Health Systems by 1,038.2% during the fourth quarter. Millennium Management LLC now owns 1,005,396 shares of the company’s stock worth $2,835,000 after buying an additional 917,065 shares during the last quarter. Trustcore Financial Services LLC acquired a new position in Community Health Systems during the first quarter worth approximately $640,000. Geode Capital Management LLC increased its position in Community Health Systems by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 1,153,879 shares of the company’s stock worth $3,253,000 after buying an additional 106,224 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Community Health Systems during the fourth quarter worth approximately $285,000. 98.36% of the stock is owned by institutional investors.

Community Health Systems stock traded down $0.05 during midday trading on Wednesday, reaching $2.40. 59,047 shares of the company were exchanged, compared to its average volume of 1,994,168. The firm has a market capitalization of $289.25 million, a P/E ratio of -1.25 and a beta of 2.41. The company’s 50-day moving average is $2.73. Community Health Systems has a 1 year low of $2.35 and a 1 year high of $5.35.

About Community Health Systems

Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company 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.

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