Brokers Offer Predictions for Tenet Healthcare Corporation’s Q3 2017 Earnings (THC)

Tenet Healthcare Corporation (NYSE:THC) – Analysts at Jefferies Group decreased their Q3 2017 earnings estimates for shares of Tenet Healthcare Corporation in a research note issued to investors on Tuesday. Jefferies Group analyst B. Tanquilut now forecasts that the company will post earnings of ($0.32) per share for the quarter, down from their prior estimate of ($0.22). Jefferies Group currently has a “Buy” rating and a $24.00 price target on the stock. Jefferies Group also issued estimates for Tenet Healthcare Corporation’s FY2017 earnings at $0.96 EPS.

Tenet Healthcare Corporation (NYSE:THC) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.17) EPS for the quarter, meeting the consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative return on equity of 2.00% and a negative net margin of 0.97%. The business had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. Tenet Healthcare Corporation’s revenue for the quarter was up 204.1% on a year-over-year basis.

COPYRIGHT VIOLATION NOTICE: This piece was first posted by Ticker Report and is the sole property of of Ticker Report. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.tickerreport.com/banking-finance/2797553/brokers-offer-predictions-for-tenet-healthcare-corporations-q3-2017-earnings-thc.html.

A number of other equities research analysts also recently commented on the stock. Zacks Investment Research raised shares of Tenet Healthcare Corporation from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research report on Monday, July 10th. Credit Suisse Group lifted their target price on shares of Tenet Healthcare Corporation from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, May 15th. ValuEngine downgraded shares of Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Mizuho reaffirmed a “neutral” rating and issued a $18.00 target price on shares of Tenet Healthcare Corporation in a research report on Sunday, April 23rd. Finally, Morgan Stanley initiated coverage on shares of Tenet Healthcare Corporation in a research report on Tuesday, June 6th. They issued an “equal weight” rating and a $19.00 target price for the company. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Tenet Healthcare Corporation presently has a consensus rating of “Hold” and a consensus target price of $23.20.

Shares of Tenet Healthcare Corporation (THC) opened at 13.53 on Thursday. Tenet Healthcare Corporation has a one year low of $13.31 and a one year high of $26.58. The firm’s 50-day moving average is $18.46 and its 200-day moving average is $18.10. The company’s market cap is $1.36 billion. Tenet Healthcare Corporation also was the target of unusually large options trading activity on Monday. Traders bought 14,690 put options on the company. This is an increase of approximately 974% compared to the average daily volume of 1,368 put options.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. North Tide Capital LLC purchased a new position in Tenet Healthcare Corporation during the first quarter worth $35,420,000. Norges Bank purchased a new position in Tenet Healthcare Corporation during the fourth quarter worth $18,545,000. Ameriprise Financial Inc. boosted its position in Tenet Healthcare Corporation by 302.9% in the first quarter. Ameriprise Financial Inc. now owns 1,429,821 shares of the company’s stock worth $25,321,000 after buying an additional 1,074,960 shares during the period. King Street Capital Management L.P. purchased a new position in Tenet Healthcare Corporation during the first quarter worth $17,710,000. Finally, First Eagle Investment Management LLC purchased a new position in Tenet Healthcare Corporation during the second quarter worth $15,059,000.

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.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.