Zacks Investment Research upgraded shares of Community Health Systems (NYSE:CYH) from a sell rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Community Health is well poised for long term growth on the back of its inorganic strategies. The company’s frequent divestitures to streamline core operations have helped it lower its debt burden. As a part of their restructuring plan, the company has started taking up certain corrective measures in order to bring improvement to its top line. However, the company’s shares have underperformed the industry in a year’s time. It has seen a continuous decline in its revenues that has been putting pressure on the bottom line. Following lackluster third-quarter results, the company has lowered its 2017 earnings per share guidance. It has seen its Zacks Consensus Estimate for 2018 earnings being revised downward in the past 60 days.”
A number of other equities research analysts have also commented on the stock. Cantor Fitzgerald reaffirmed a hold rating and issued a $6.00 price objective on shares of Community Health Systems in a research note on Thursday, January 11th. Goldman Sachs Group began coverage on shares of Community Health Systems in a research note on Wednesday, January 3rd. They issued a sell rating and a $3.00 price objective on the stock. ValuEngine lowered shares of Community Health Systems from a hold rating to a sell rating in a research note on Friday, December 22nd. JPMorgan Chase & Co. lowered shares of Community Health Systems from a neutral rating to an underweight rating in a research note on Thursday, December 14th. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $5.00 price objective on shares of Community Health Systems in a research note on Tuesday, November 7th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Community Health Systems currently has a consensus rating of Hold and a consensus target price of $6.21.
Community Health Systems (NYSE:CYH) traded up $0.06 during trading hours on Wednesday, hitting $5.21. 3,120,160 shares of the stock were exchanged, compared to its average volume of 3,231,550. The company has a debt-to-equity ratio of 10.62, a quick ratio of 1.86 and a current ratio of 2.05. Community Health Systems has a 12 month low of $3.85 and a 12 month high of $10.51.
Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($0.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.47). Community Health Systems had a negative net margin of 3.97% and a negative return on equity of 3.10%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the company posted ($0.35) earnings per share. The company’s revenue for the quarter was down 16.3% compared to the same quarter last year. equities research analysts forecast that Community Health Systems will post -1.25 earnings per share for the current year.
In related news, major shareholder Tian Qiao Chen bought 100,164 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were acquired at an average cost of $3.96 per share, with a total value of $396,649.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have purchased 1,980,484 shares of company stock worth $7,878,489. 4.70% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ARP Americas LLC acquired a new position in Community Health Systems during the third quarter worth $121,000. Ameriprise Financial Inc. raised its holdings in Community Health Systems by 9.2% during the second quarter. Ameriprise Financial Inc. now owns 716,703 shares of the company’s stock worth $7,141,000 after buying an additional 60,394 shares during the last quarter. Quantbot Technologies LP raised its holdings in Community Health Systems by 114.9% during the second quarter. Quantbot Technologies LP now owns 126,826 shares of the company’s stock worth $1,263,000 after buying an additional 67,819 shares during the last quarter. IndexIQ Advisors LLC raised its holdings in Community Health Systems by 83.0% during the third quarter. IndexIQ Advisors LLC now owns 97,715 shares of the company’s stock worth $750,000 after buying an additional 44,333 shares during the last quarter. Finally, Gotham Asset Management LLC raised its holdings in Community Health Systems by 102.8% during the second quarter. Gotham Asset Management LLC now owns 963,388 shares of the company’s stock worth $9,595,000 after buying an additional 488,336 shares during the last quarter.
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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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