Shares of Community Health Systems (NYSE:CYH) have been given an average recommendation of “Hold” by the seventeen brokerages that are presently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $3.93.
Several equities analysts have issued reports on CYH shares. ValuEngine raised Community Health Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Morgan Stanley dropped their price target on Community Health Systems from $3.50 to $3.00 and set an “underweight” rating on the stock in a research note on Thursday, August 16th. SunTrust Banks reissued a “hold” rating and issued a $3.00 price target on shares of Community Health Systems in a research note on Friday, July 20th. Cantor Fitzgerald reissued a “hold” rating and issued a $6.00 price target on shares of Community Health Systems in a research note on Thursday. Finally, Piper Jaffray Companies reissued a “sell” rating and issued a $3.00 price target on shares of Community Health Systems in a research note on Friday, July 27th.
In other news, EVP Benjamin C. Fordham bought 10,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were bought at an average cost of $3.16 per share, with a total value of $31,600.00. Following the completion of the transaction, the executive vice president now directly owns 120,629 shares of the company’s stock, valued at $381,187.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 25,000 shares of company stock worth $83,350 over the last ninety days. 3.80% of the stock is owned by insiders.
Several large investors have recently modified their holdings of CYH. BlackRock Inc. grew its holdings in Community Health Systems by 5.8% during the second quarter. BlackRock Inc. now owns 15,839,085 shares of the company’s stock worth $52,587,000 after buying an additional 872,001 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Community Health Systems by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 8,437,790 shares of the company’s stock worth $33,414,000 after buying an additional 408,397 shares in the last quarter. Saba Capital Management L.P. grew its holdings in Community Health Systems by 11.4% during the second quarter. Saba Capital Management L.P. now owns 8,213,005 shares of the company’s stock worth $27,267,000 after buying an additional 837,427 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Community Health Systems by 17.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,097,383 shares of the company’s stock worth $16,923,000 after buying an additional 749,092 shares in the last quarter. Finally, PointState Capital LP bought a new stake in Community Health Systems during the first quarter worth $12,057,000. 97.55% of the stock is currently owned by institutional investors.
CYH traded down $0.04 during trading on Wednesday, hitting $2.62. The company’s stock had a trading volume of 1,801,026 shares, compared to its average volume of 2,641,815. Community Health Systems has a twelve month low of $2.56 and a twelve month high of $6.64. The company has a debt-to-equity ratio of -17.03, a quick ratio of 1.58 and a current ratio of 1.79. The firm has a market cap of $402.24 million, a PE ratio of -2.18 and a beta of 1.69.
Community Health Systems (NYSE:CYH) last issued its quarterly earnings results on Thursday, July 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.42. Community Health Systems had a negative return on equity of 36.38% and a negative net margin of 16.16%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same period in the previous year, the firm earned ($0.25) earnings per share. The company’s revenue was down 14.0% compared to the same quarter last year. Research analysts predict that Community Health Systems will post -1.49 EPS for the current fiscal year.
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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