Equities Analysts Set Expectations for Community Health Systems’ Q2 2019 Earnings (CYH)

Community Health Systems (NYSE:CYH) – Oppenheimer issued their Q2 2019 earnings per share estimates for shares of Community Health Systems in a note issued to investors on Tuesday. Oppenheimer analyst M. Wiederhorn forecasts that the company will earn ($0.15) per share for the quarter. Oppenheimer also issued estimates for Community Health Systems’ Q3 2019 earnings at ($0.16) EPS, Q4 2019 earnings at $0.10 EPS and FY2019 earnings at ($0.22) EPS.

CYH has been the subject of several other reports. Zacks Investment Research cut Community Health Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 3rd. ValuEngine cut Community Health Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Goldman Sachs Group assumed coverage on Community Health Systems in a research report on Wednesday, January 3rd. They set a “sell” rating and a $3.00 price target for the company. Cantor Fitzgerald reiterated a “hold” rating and set a $6.00 price target on shares of Community Health Systems in a research report on Sunday, November 5th. Finally, Citigroup reduced their price target on Community Health Systems from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.21.

Shares of Community Health Systems (CYH) traded up $0.06 during trading hours on Wednesday, hitting $5.21. The stock had a trading volume of 3,157,117 shares, compared to its average volume of 4,377,546. Community Health Systems has a 1 year low of $3.85 and a 1 year high of $10.51. The stock has a market capitalization of $597.73, a PE ratio of -0.90 and a beta of 1.42. 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 (NYSE:CYH) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the business earned ($0.35) earnings per share. The company’s revenue for the quarter was down 16.3% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new stake in Community Health Systems in the fourth quarter valued at approximately $157,000. Bank of Montreal Can grew its holdings in Community Health Systems by 882.1% in the fourth quarter. Bank of Montreal Can now owns 37,084 shares of the company’s stock valued at $158,000 after purchasing an additional 33,308 shares during the period. FrontFour Capital Group LLC acquired a new stake in Community Health Systems in the third quarter valued at approximately $113,000. California Public Employees Retirement System grew its holdings in Community Health Systems by 11.3% in the third quarter. California Public Employees Retirement System now owns 1,645,329 shares of the company’s stock valued at $12,636,000 after purchasing an additional 167,633 shares during the period. Finally, Group One Trading L.P. grew its holdings in Community Health Systems by 345.2% in the third quarter. Group One Trading L.P. now owns 65,727 shares of the company’s stock valued at $505,000 after purchasing an additional 50,962 shares during the period.

In related news, major shareholder Tian Qiao Chen purchased 100,164 shares of Community Health Systems stock in a transaction that occurred on Thursday, December 7th. The stock was bought at an average cost of $3.96 per share, for a total transaction of $396,649.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have purchased 1,980,484 shares of company stock valued at $7,878,489. 4.70% of the stock is owned by company insiders.

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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.

Earnings History and Estimates for Community Health Systems (NYSE:CYH)

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