Tenet Healthcare Corp (NYSE:THC) Expected to Announce Earnings of $0.28 Per Share

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Analysts forecast that Tenet Healthcare Corp (NYSE:THC) will report earnings of $0.28 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Tenet Healthcare’s earnings, with estimates ranging from $0.02 to $0.42. Tenet Healthcare posted earnings of $0.29 per share in the same quarter last year, which would suggest a negative year over year growth rate of 3.4%. The business is scheduled to issue its next earnings report on Monday, November 4th.

On average, analysts expect that Tenet Healthcare will report full-year earnings of $2.37 per share for the current financial year, with EPS estimates ranging from $2.11 to $2.60. For the next fiscal year, analysts forecast that the business will report earnings of $2.78 per share, with EPS estimates ranging from $2.15 to $3.80. Zacks’ EPS calculations are a mean average based on a survey of research firms that follow Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.44 by $0.12. Tenet Healthcare had a negative net margin of 0.09% and a positive return on equity of 28.95%. The company had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the previous year, the business posted $0.49 EPS. The firm’s revenue was up 1.2% on a year-over-year basis.

Several brokerages have recently issued reports on THC. SunTrust Banks set a $24.00 target price on shares of Tenet Healthcare and gave the company a “hold” rating in a report on Wednesday, August 7th. Goldman Sachs Group began coverage on shares of Tenet Healthcare in a report on Wednesday, August 14th. They issued a “neutral” rating and a $28.00 target price for the company. Finally, Royal Bank of Canada restated a “hold” rating and issued a $26.00 target price on shares of Tenet Healthcare in a report on Sunday, August 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $28.62.

Shares of Tenet Healthcare stock opened at $25.52 on Tuesday. The company has a fifty day simple moving average of $21.68 and a 200-day simple moving average of $23.12. Tenet Healthcare has a 12-month low of $16.60 and a 12-month high of $31.64. The company has a current ratio of 1.13, a quick ratio of 1.06 and a debt-to-equity ratio of 19.96. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.68 and a beta of 1.61.

In other Tenet Healthcare news, major shareholder Glenview Capital Management, L acquired 200,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were bought at an average cost of $19.36 per share, for a total transaction of $3,872,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward A. Kangas sold 45,000 shares of Tenet Healthcare stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $20.28, for a total transaction of $912,600.00. Following the completion of the transaction, the director now owns 47,138 shares in the company, valued at $955,958.64. The disclosure for this sale can be found here. In the last 90 days, insiders bought 1,103,968 shares of company stock valued at $22,295,091. Company insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rehmann Capital Advisory Group increased its stake in Tenet Healthcare by 62.4% in the second quarter. Rehmann Capital Advisory Group now owns 1,601 shares of the company’s stock valued at $33,000 after purchasing an additional 615 shares during the period. GWM Advisors LLC increased its stake in Tenet Healthcare by 170.4% in the first quarter. GWM Advisors LLC now owns 31,789 shares of the company’s stock valued at $51,000 after purchasing an additional 20,034 shares during the period. KBC Group NV purchased a new stake in shares of Tenet Healthcare in the second quarter valued at about $53,000. Advisory Services Network LLC purchased a new stake in shares of Tenet Healthcare in the first quarter valued at about $113,000. Finally, Point72 Hong Kong Ltd boosted its holdings in shares of Tenet Healthcare by 605.4% in the second quarter. Point72 Hong Kong Ltd now owns 5,453 shares of the company’s stock valued at $113,000 after acquiring an additional 4,680 shares in the last quarter.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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