Tenet Healthcare Corporation Forecasted to Earn FY2017 Earnings of $0.65 Per Share (THC)

Tenet Healthcare Corporation (NYSE:THC) – Research analysts at Jefferies Group cut their FY2017 EPS estimates for Tenet Healthcare Corporation in a note issued to investors on Monday. Jefferies Group analyst B. Tanquilut now anticipates that the company will earn $0.65 per share for the year, down from their prior forecast of $0.78. Jefferies Group has a “Buy” rating and a $20.00 price target on the stock. Jefferies Group also issued estimates for Tenet Healthcare Corporation’s Q4 2017 earnings at $1.25 EPS, Q2 2018 earnings at $0.26 EPS and Q4 2018 earnings at $0.22 EPS.

Tenet Healthcare Corporation (NYSE:THC) last announced its quarterly earnings data on Monday, November 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.23. The firm had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.94 billion. Tenet Healthcare Corporation had a negative return on equity of 5.61% and a negative net margin of 2.85%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 EPS.

ILLEGAL ACTIVITY WARNING: This news story was reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://transcriptdaily.com/2017/11/15/tenet-healthcare-corporation-forecasted-to-earn-fy2017-earnings-of-0-65-per-share-thc.html.

A number of other equities research analysts also recently weighed in on THC. Royal Bank Of Canada reaffirmed a “hold” rating and set a $25.00 price target on shares of Tenet Healthcare Corporation in a research note on Tuesday, July 18th. BidaskClub lowered Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Credit Suisse Group AG lowered their price objective on Tenet Healthcare Corporation from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 9th. Robert W. Baird reissued an “outperform” rating and set a $23.00 price objective on shares of Tenet Healthcare Corporation in a report on Thursday, August 10th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $16.00 price objective (down previously from $20.00) on shares of Tenet Healthcare Corporation in a report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $19.00.

Shares of Tenet Healthcare Corporation (NYSE:THC) opened at $13.67 on Tuesday. Tenet Healthcare Corporation has a one year low of $12.25 and a one year high of $22.72. The company has a current ratio of 1.28, a quick ratio of 1.21 and a debt-to-equity ratio of 21.21.

Several hedge funds have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Tenet Healthcare Corporation by 0.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,737 shares of the company’s stock worth $227,000 after acquiring an additional 73 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Tenet Healthcare Corporation by 0.6% during the second quarter. Retirement Systems of Alabama now owns 103,679 shares of the company’s stock worth $2,005,000 after purchasing an additional 591 shares during the period. Arizona State Retirement System grew its stake in shares of Tenet Healthcare Corporation by 2.1% during the second quarter. Arizona State Retirement System now owns 33,900 shares of the company’s stock worth $656,000 after purchasing an additional 700 shares during the period. Mutual of America Capital Management LLC grew its stake in shares of Tenet Healthcare Corporation by 1.2% during the second quarter. Mutual of America Capital Management LLC now owns 67,502 shares of the company’s stock worth $1,305,000 after purchasing an additional 779 shares during the period. Finally, State Treasurer State of Michigan grew its stake in shares of Tenet Healthcare Corporation by 2.5% during the second quarter. State Treasurer State of Michigan now owns 33,200 shares of the company’s stock worth $642,000 after purchasing an additional 800 shares during the period.

About Tenet Healthcare Corporation

Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.

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

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

Leave a Reply