Community Health Systems (NYSE:CYH) Releases Earnings Results, Misses Expectations By $0.19 EPS

Community Health Systems (NYSE:CYH) released its quarterly earnings data on Wednesday. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.19), FiscalAI reports. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Community Health Systems had a negative return on equity of 6.66% and a net margin of 2.10%.

Community Health Systems Stock Down 6.9%

CYH traded down $0.20 on Wednesday, reaching $2.65. The company had a trading volume of 2,086,930 shares, compared to its average volume of 1,574,054. Community Health Systems has a 1 year low of $2.40 and a 1 year high of $4.33. The stock has a market capitalization of $372.97 million, a PE ratio of 1.43 and a beta of 1.88. The stock has a 50-day moving average price of $2.90 and a 200-day moving average price of $3.05.

Analyst Ratings Changes

A number of research firms have weighed in on CYH. Wall Street Zen cut Community Health Systems from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. BMO Capital Markets started coverage on Community Health Systems in a research report on Tuesday, September 22nd. They set a “market perform” rating and a $3.00 price objective for the company. UBS Group dropped their price objective on Community Health Systems from $3.20 to $3.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Weiss Ratings lowered Community Health Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 14th. Finally, Barclays cut their target price on Community Health Systems from $3.00 to $2.50 and set an “underweight” rating on the stock in a research report on Thursday, July 23rd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $2.96.

Insider Activity

In other news, Director William Jennings sold 40,000 shares of Community Health Systems stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $2.96, for a total transaction of $118,400.00. Following the sale, the director owned 38,468 shares in the company, valued at approximately $113,865.28. The trade was a 50.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.10% of the company’s stock.

About Community Health Systems

Community Health Systems, Inc (NYSE: CYH) is a healthcare services company that owns, leases, and operates general acute-care hospitals and related healthcare facilities in the United States. The company focuses primarily on serving communities in small cities and non-urban markets, providing access to hospital-based and outpatient care.

Its services generally include emergency care, inpatient and outpatient treatment, surgery, diagnostic imaging, laboratory services, rehabilitation, and other clinical programs.