Cantor Fitzgerald reaffirmed their hold rating on shares of Community Health Systems, Inc. (NYSE:CYH) in a research report released on Sunday morning. They currently have a $6.00 target price on the stock.
“Disappointing 3Q17 results reflect CYH’s continuing restructuring and a number of headwinds, including an estimated $40 million of hurricane-related costs, a $15 million drag from divestitures, and lower-than-expected net revenue due to weak volumes, rate pressure and bad debt.”,” Cantor Fitzgerald’s analyst commented.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Community Health Systems from a hold rating to a buy rating and set a $11.00 price objective for the company in a research report on Tuesday, July 11th. Robert W. Baird restated a hold rating and set a $7.00 price objective on shares of Community Health Systems in a research report on Friday, September 1st. Jefferies Group LLC restated a hold rating and set a $7.00 price objective on shares of Community Health Systems in a research report on Sunday, July 30th. Royal Bank Of Canada reiterated a hold rating and issued a $7.00 price target on shares of Community Health Systems in a report on Friday, August 4th. Finally, Deutsche Bank AG cut their price target on Community Health Systems from $13.00 to $8.00 and set a hold rating for the company in a report on Thursday, August 3rd. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $6.47.
Community Health Systems (NYSE CYH) opened at $4.49 on Friday. The company has a debt-to-equity ratio of 10.62, a quick ratio of 1.86 and a current ratio of 2.05. Community Health Systems has a 12-month low of $4.15 and a 12-month high of $10.51.
Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.47). Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. The company’s revenue for the quarter was down 16.3% on a year-over-year basis. sell-side analysts anticipate that Community Health Systems will post -1.03 earnings per share for the current fiscal year.
In related news, major shareholder Tian Qiao Chen acquired 9,766,897 shares of the stock in a transaction dated Monday, August 14th. The stock was bought at an average cost of $7.27 per share, with a total value of $71,005,341.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. purchased a new stake in Community Health Systems during the 2nd quarter worth $107,000. Shelton Capital Management purchased a new stake in Community Health Systems during the 2nd quarter worth $110,000. ARP Americas LLC purchased a new stake in Community Health Systems during the 3rd quarter worth $121,000. Fox Run Management L.L.C. purchased a new stake in Community Health Systems during the 2nd quarter worth $126,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in Community Health Systems by 134.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 14,300 shares of the company’s stock worth $127,000 after purchasing an additional 8,200 shares during the period. 99.59% of the stock is owned by institutional investors.
Community Health Systems Company Profile
Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.
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