Tenet Healthcare Corporation (NYSE:THC) – Equities researchers at KeyCorp dropped their FY2017 earnings estimates for Tenet Healthcare Corporation in a research note issued on Tuesday. KeyCorp analyst J. Gurda now expects that the company will post earnings per share of $0.65 for the year, down from their prior forecast of $0.92. KeyCorp also issued estimates for Tenet Healthcare Corporation’s Q4 2017 earnings at $1.25 EPS, FY2018 earnings at $0.94 EPS and FY2019 earnings at $1.26 EPS.
A number of other research firms also recently commented on THC. Royal Bank of Canada reiterated a “hold” rating and set a $25.00 target price on shares of Tenet Healthcare Corporation in a research report on Tuesday, July 18th. Deutsche Bank AG reiterated a “buy” rating and set a $24.00 target price on shares of Tenet Healthcare Corporation in a research report on Friday, September 1st. Mizuho reiterated a “neutral” rating and set a $14.00 target price on shares of Tenet Healthcare Corporation in a research report on Thursday, September 14th. BidaskClub downgraded Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $24.00 target price (down from $26.00) on shares of Tenet Healthcare Corporation in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $19.14.
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Tenet Healthcare Corporation (NYSE THC) opened at $13.82 on Friday. The company has a debt-to-equity ratio of 21.21, a quick ratio of 1.17 and a current ratio of 1.28. Tenet Healthcare Corporation has a 52-week low of $12.25 and a 52-week high of $22.72.
Tenet Healthcare Corporation (NYSE:THC) last posted its earnings results on Monday, November 6th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.23. The firm had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.94 billion. Tenet Healthcare Corporation had a negative return on equity of 5.61% and a negative net margin of 2.85%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS.
A number of hedge funds have recently added to or reduced their stakes in THC. Alliancebernstein L.P. increased its stake in Tenet Healthcare Corporation by 121.0% in the first quarter. Alliancebernstein L.P. now owns 89,615 shares of the company’s stock worth $1,587,000 after purchasing an additional 49,073 shares during the period. Teachers Advisors LLC increased its stake in Tenet Healthcare Corporation by 5.0% in the first quarter. Teachers Advisors LLC now owns 136,758 shares of the company’s stock worth $2,422,000 after purchasing an additional 6,553 shares during the period. PNC Financial Services Group Inc. increased its stake in Tenet Healthcare Corporation by 52.1% in the first quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock worth $117,000 after purchasing an additional 2,266 shares during the period. Vanguard Group Inc. increased its stake in Tenet Healthcare Corporation by 2.5% in the first quarter. Vanguard Group Inc. now owns 6,587,359 shares of the company’s stock worth $116,662,000 after purchasing an additional 160,814 shares during the period. Finally, Geode Capital Management LLC increased its stake in Tenet Healthcare Corporation by 2.7% in the first quarter. Geode Capital Management LLC now owns 619,527 shares of the company’s stock worth $10,971,000 after purchasing an additional 16,372 shares during the period.
About Tenet Healthcare Corporation
Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.
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