Zacks: Analysts Anticipate Tenet Healthcare Corp (THC) Will Announce Earnings of $0.23 Per Share
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.
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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