Community Health Systems, Inc. (NYSE:CYH) – Analysts at Leerink Swann reduced their Q3 2017 earnings estimates for shares of Community Health Systems in a research note issued to investors on Monday. Leerink Swann analyst A. Gupte now forecasts that the company will post earnings per share of ($0.25) for the quarter, down from their previous estimate of ($0.11). Leerink Swann also issued estimates for Community Health Systems’ Q4 2017 earnings at $0.12 EPS, FY2017 earnings at ($0.30) EPS, FY2018 earnings at $0.12 EPS and FY2019 earnings at $0.46 EPS.
Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Tuesday, August 1st. The company reported ($0.25) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.31). The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.14 billion. Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. Community Health Systems’s revenue was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS.
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CYH has been the topic of a number of other research reports. Piper Jaffray Companies restated a “sell” rating and issued a $9.00 target price on shares of Community Health Systems in a report on Wednesday, July 26th. Zacks Investment Research lowered shares of Community Health Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Deutsche Bank AG decreased their price objective on shares of Community Health Systems from $13.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, August 3rd. UBS AG reiterated a “neutral” rating and issued a $8.00 price objective (down previously from $10.00) on shares of Community Health Systems in a research note on Wednesday, August 23rd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $7.00 price objective on shares of Community Health Systems in a research note on Tuesday, September 5th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. Community Health Systems has an average rating of “Hold” and an average price target of $7.52.
Community Health Systems (NYSE:CYH) opened at 6.20 on Thursday. Community Health Systems has a one year low of $4.15 and a one year high of $10.60. The company’s market cap is $694.00 million. The stock has a 50 day moving average price of $7.10 and a 200 day moving average price of $8.28.
A number of hedge funds and other institutional investors have recently bought and sold shares of CYH. Marshall Wace North America L.P. purchased a new stake in shares of Community Health Systems during the 2nd quarter valued at $2,628,000. BNP Paribas Arbitrage SA raised its position in shares of Community Health Systems by 101.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 59,039 shares of the company’s stock valued at $588,000 after buying an additional 29,794 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Community Health Systems during the 1st quarter valued at $152,000. Alps Advisors Inc. purchased a new stake in shares of Community Health Systems during the 2nd quarter valued at $107,000. Finally, Phoenix Investment Adviser LLC purchased a new stake in shares of Community Health Systems during the 2nd quarter valued at $886,000. Institutional investors and hedge funds own 94.69% of the company’s stock.
In other news, major shareholder Tian Qiao Chen bought 9,766,897 shares of the stock in a transaction on Monday, August 14th. The shares were acquired at an average cost of $7.27 per share, for a total transaction of $71,005,341.19. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.70% of the company’s stock.
About Community Health Systems
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.
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