Brokerages expect Tenet Healthcare Corp (NYSE:THC) to announce $4.38 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Tenet Healthcare’s earnings. The lowest sales estimate is $4.31 billion and the highest is $4.43 billion. Tenet Healthcare reported sales of $4.59 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 4.6%. The business is expected to report its next earnings results after the market closes on Monday, November 5th.
On average, analysts expect that Tenet Healthcare will report full-year sales of $18.12 billion for the current financial year, with estimates ranging from $18.08 billion to $18.19 billion. For the next year, analysts forecast that the company will post sales of $17.89 billion, with estimates ranging from $16.95 billion to $18.39 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Tenet Healthcare.
Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Monday, August 6th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.24. The business had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.57 billion. Tenet Healthcare had a positive return on equity of 38.91% and a negative net margin of 2.51%. Tenet Healthcare’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) EPS.
THC has been the topic of a number of research reports. Zacks Investment Research lowered Tenet Healthcare from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. JPMorgan Chase & Co. boosted their price objective on Tenet Healthcare from $22.00 to $28.00 and gave the stock an “underweight” rating in a research report on Friday, August 10th. ValuEngine lowered Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 27th. SunTrust Banks restated a “hold” rating and set a $35.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, August 8th. Finally, Jefferies Financial Group lowered Tenet Healthcare from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $28.00 to $38.00 in a research report on Friday, June 29th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.80.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. grew its position in shares of Tenet Healthcare by 45.8% in the 2nd quarter. Assetmark Inc. now owns 5,093 shares of the company’s stock valued at $171,000 after buying an additional 1,601 shares during the last quarter. Arizona State Retirement System grew its position in shares of Tenet Healthcare by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 56,681 shares of the company’s stock valued at $1,903,000 after buying an additional 1,959 shares during the last quarter. Amalgamated Bank grew its position in shares of Tenet Healthcare by 16.9% in the 2nd quarter. Amalgamated Bank now owns 13,634 shares of the company’s stock valued at $458,000 after buying an additional 1,970 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of Tenet Healthcare by 5.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 48,312 shares of the company’s stock valued at $1,622,000 after buying an additional 2,470 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tenet Healthcare by 48.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,267 shares of the company’s stock valued at $278,000 after buying an additional 2,700 shares during the last quarter.
THC stock traded down $0.04 during midday trading on Monday, reaching $25.39. 1,156,329 shares of the stock were exchanged, compared to its average volume of 1,912,491. The firm has a market capitalization of $2.91 billion, a P/E ratio of 31.35, a P/E/G ratio of 1.27 and a beta of 0.92. Tenet Healthcare has a 52 week low of $12.25 and a 52 week high of $39.74. The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 24.66.
Tenet Healthcare Company Profile
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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