Wall Street brokerages expect Tenet Healthcare Corp (NYSE:THC) to post earnings of $0.23 per share for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Tenet Healthcare’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.16. Tenet Healthcare posted earnings per share of ($0.17) in the same quarter last year, which would suggest a positive year-over-year growth rate of 235.3%. The company is expected to report its next earnings results on Monday, August 6th.

On average, analysts expect that Tenet Healthcare will report full-year earnings of $1.54 per share for the current fiscal year, with EPS estimates ranging from $1.42 to $1.67. For the next year, analysts forecast that the business will post earnings of $1.95 per share, with EPS estimates ranging from $1.30 to $2.77. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Monday, April 30th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.61. Tenet Healthcare had a negative net margin of 2.90% and a positive return on equity of 23.13%. The firm had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period last year, the firm earned ($0.27) EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year.

Several research analysts have commented on THC shares. Zacks Investment Research raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Monday, May 28th. Mizuho reissued a “buy” rating and issued a $29.00 price target on shares of Tenet Healthcare in a report on Thursday, March 22nd. JPMorgan Chase & Co. raised their price target on shares of Tenet Healthcare from $15.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, March 5th. SunTrust Banks reissued a “hold” rating and issued a $27.00 price target on shares of Tenet Healthcare in a report on Tuesday, April 17th. Finally, TheStreet raised shares of Tenet Healthcare from a “d+” rating to a “c” rating in a report on Tuesday, March 13th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Tenet Healthcare currently has a consensus rating of “Hold” and a consensus price target of $27.63.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC lifted its holdings in shares of Tenet Healthcare by 286.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 7,700 shares of the company’s stock worth $187,000 after acquiring an additional 5,705 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Tenet Healthcare during the 1st quarter worth $208,000. Elkfork Partners LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter worth $142,000. Teza Capital Management LLC bought a new stake in shares of Tenet Healthcare during the 1st quarter worth $237,000. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Tenet Healthcare during the 4th quarter worth $153,000.

Tenet Healthcare traded down $1.04, hitting $33.57, during trading hours on Friday, MarketBeat Ratings reports. The stock had a trading volume of 3,217,964 shares, compared to its average volume of 1,366,174. The company has a debt-to-equity ratio of 23.09, a current ratio of 1.24 and a quick ratio of 1.17. Tenet Healthcare has a one year low of $12.25 and a one year high of $38.81. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 41.44, a PEG ratio of 1.67 and a beta of 0.93.

About Tenet Healthcare

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

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Earnings History and Estimates for Tenet Healthcare (NYSE:THC)

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