Community Health Systems (NYSE:CYH)’s stock price rose 10.5% on Wednesday . The company traded as high as $3.15 and last traded at $2.94, approximately 3,739,394 shares traded hands during mid-day trading. An increase of 80% from the average daily volume of 2,074,249 shares. The stock had previously closed at $2.66.
Several brokerages recently issued reports on CYH. SunTrust Banks decreased their price target on shares of Community Health Systems from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Wednesday, December 18th. ValuEngine raised shares of Community Health Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Finally, Zacks Investment Research upgraded shares of Community Health Systems from a “hold” rating to a “strong-buy” rating and set a $3.25 price objective on the stock in a report on Friday. Three analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Community Health Systems presently has an average rating of “Hold” and an average price target of $3.63.
The stock has a 50 day simple moving average of $3.00 and a 200-day simple moving average of $2.99. The firm has a market cap of $381.82 million, a PE ratio of -1.77 and a beta of 2.36.
Community Health Systems (NYSE:CYH) last released its earnings results on Tuesday, October 29th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.30. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the company posted ($1.64) earnings per share. The company’s revenue was down 5.9% on a year-over-year basis. As a group, equities research analysts expect that Community Health Systems will post -1.73 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Balyasny Asset Management LLC bought a new position in shares of Community Health Systems in the second quarter worth approximately $29,000. Royal Bank of Canada raised its holdings in Community Health Systems by 72.6% in the 2nd quarter. Royal Bank of Canada now owns 12,377 shares of the company’s stock worth $33,000 after acquiring an additional 5,205 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in Community Health Systems in the 3rd quarter worth approximately $72,000. Keybank National Association OH raised its holdings in Community Health Systems by 56.6% in the 3rd quarter. Keybank National Association OH now owns 27,500 shares of the company’s stock worth $99,000 after acquiring an additional 9,936 shares during the last quarter. Finally, Alpine Global Management LLC bought a new position in Community Health Systems in the 4th quarter valued at approximately $104,000. 93.97% of the stock is owned by institutional investors and hedge funds.
About Community Health Systems (NYSE:CYH)
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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