Brokerages forecast that Community Health Systems (NYSE:CYH) will post $3.63 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Community Health Systems’ earnings, with the highest sales estimate coming in at $3.82 billion and the lowest estimate coming in at $3.51 billion. Community Health Systems reported sales of $4.49 billion in the same quarter last year, which would suggest a negative year over year growth rate of 19.2%. The company is scheduled to report its next earnings results on Monday, May 7th.
According to Zacks, analysts expect that Community Health Systems will report full-year sales of $3.63 billion for the current financial year, with estimates ranging from $13.60 billion to $14.03 billion. For the next fiscal year, analysts forecast that the business will report sales of $13.20 billion per share, with estimates ranging from $12.85 billion to $13.74 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Community Health Systems.
Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.25) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.09. Community Health Systems had a negative net margin of 16.01% and a negative return on equity of 14.18%. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. The business’s revenue for the quarter was down 31.6% compared to the same quarter last year.
A number of research analysts recently issued reports on the stock. Cantor Fitzgerald restated a “hold” rating and set a $6.00 target price on shares of Community Health Systems in a research report on Thursday, February 1st. Mizuho restated a “hold” rating and set a $4.50 target price on shares of Community Health Systems in a research report on Thursday, March 22nd. JPMorgan Chase downgraded shares of Community Health Systems from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 14th. ValuEngine upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Jefferies Group set a $5.00 target price on shares of Community Health Systems and gave the company a “hold” rating in a research report on Tuesday, March 6th. Eight equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $6.04.
Shares of NYSE:CYH traded down $0.17 on Monday, hitting $4.10. 1,636,806 shares of the company were exchanged, compared to its average volume of 2,681,933. The company has a market capitalization of $489.46, a P/E ratio of -3.42 and a beta of 1.59. Community Health Systems has a 1-year low of $3.77 and a 1-year high of $10.51. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of -20.06.
In other news, major shareholder Tian Qiao Chen acquired 995,551 shares of the business’s stock in a transaction on Wednesday, January 10th. The stock was bought at an average price of $3.97 per share, with a total value of $3,952,337.47. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYH. JPMorgan Chase & Co. increased its holdings in Community Health Systems by 226.4% in the third quarter. JPMorgan Chase & Co. now owns 4,228,000 shares of the company’s stock valued at $31,880,000 after buying an additional 2,932,700 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Community Health Systems by 31.3% during the third quarter. Dimensional Fund Advisors LP now owns 6,508,663 shares of the company’s stock worth $49,986,000 after purchasing an additional 1,551,499 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of Community Health Systems by 61.5% during the fourth quarter. OppenheimerFunds Inc. now owns 2,589,076 shares of the company’s stock worth $11,030,000 after purchasing an additional 985,601 shares in the last quarter. BlackRock Inc. increased its stake in shares of Community Health Systems by 4.7% during the fourth quarter. BlackRock Inc. now owns 14,960,922 shares of the company’s stock worth $63,734,000 after purchasing an additional 672,638 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new stake in shares of Community Health Systems during the fourth quarter worth about $1,951,000. 94.72% of the stock is owned by institutional investors.
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About Community Health Systems
Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.
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