$0.99 EPS Expected for Tenet Healthcare Corp (NYSE:THC) This Quarter

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Brokerages expect that Tenet Healthcare Corp (NYSE:THC) will report $0.99 earnings per share for the current quarter, Zacks reports. Seven analysts have provided estimates for Tenet Healthcare’s earnings, with the lowest EPS estimate coming in at $0.80 and the highest estimate coming in at $1.17. Tenet Healthcare reported earnings per share of $0.51 during the same quarter last year, which would indicate a positive year-over-year growth rate of 94.1%. The firm is expected to issue its next quarterly earnings results on Monday, February 24th.

On average, analysts expect that Tenet Healthcare will report full-year earnings of $2.65 per share for the current year, with EPS estimates ranging from $2.33 to $2.87. For the next fiscal year, analysts forecast that the company will report earnings of $2.90 per share, with EPS estimates ranging from $2.40 to $3.10. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.30. Tenet Healthcare had a negative net margin of 1.31% and a positive return on equity of 35.68%. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the company earned $0.29 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year.

A number of equities research analysts have weighed in on THC shares. SunTrust Banks lifted their price target on shares of Tenet Healthcare from $24.00 to $31.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their price target on shares of Tenet Healthcare from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Goldman Sachs Group started coverage on shares of Tenet Healthcare in a research note on Wednesday, August 14th. They set a “neutral” rating and a $28.00 price target on the stock. ValuEngine downgraded shares of Tenet Healthcare from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 5th. Finally, Mizuho reiterated a “buy” rating on shares of Tenet Healthcare in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $29.92.

THC traded up $0.25 during trading on Monday, reaching $30.80. 1,059,363 shares of the company’s stock were exchanged, compared to its average volume of 1,489,953. Tenet Healthcare has a fifty-two week low of $16.60 and a fifty-two week high of $31.64. The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 30.38. The business has a 50 day moving average price of $25.18 and a 200 day moving average price of $22.15. The company has a market capitalization of $3.19 billion, a P/E ratio of 16.56, a PEG ratio of 0.71 and a beta of 1.66.

In related news, Director Edward A. Kangas sold 45,000 shares of Tenet Healthcare stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $20.28, for a total value of $912,600.00. Following the completion of the transaction, the director now directly owns 47,138 shares of the company’s stock, valued at $955,958.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Glenview Capital Management, L purchased 81,368 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $20.70 per share, with a total value of $1,684,317.60. The disclosure for this purchase can be found here. Insiders bought a total of 311,403 shares of company stock worth $6,393,099 in the last 90 days. 1.50% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Tenet Healthcare by 9.8% in the second quarter. BlackRock Inc. now owns 11,069,966 shares of the company’s stock valued at $228,706,000 after buying an additional 988,993 shares during the last quarter. Camber Capital Management LP raised its holdings in shares of Tenet Healthcare by 42.9% in the second quarter. Camber Capital Management LP now owns 2,500,000 shares of the company’s stock valued at $51,650,000 after buying an additional 750,000 shares during the last quarter. Letko Brosseau & Associates Inc. raised its holdings in shares of Tenet Healthcare by 18.8% in the third quarter. Letko Brosseau & Associates Inc. now owns 2,476,785 shares of the company’s stock valued at $54,786,000 after buying an additional 391,475 shares during the last quarter. FMR LLC raised its holdings in shares of Tenet Healthcare by 13.7% in the first quarter. FMR LLC now owns 1,785,117 shares of the company’s stock valued at $51,483,000 after buying an additional 215,600 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Tenet Healthcare by 1.9% during the 2nd quarter. Northern Trust Corp now owns 1,419,838 shares of the company’s stock worth $29,333,000 after purchasing an additional 27,142 shares during the last quarter. 99.16% of the stock is owned by institutional investors and hedge funds.

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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