Tenet Healthcare (NYSE:THC) announced its quarterly earnings results on Monday. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.18, Briefing.com reports. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.37 billion. Tenet Healthcare had a positive return on equity of 38.91% and a negative net margin of 2.51%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) earnings per share.
NYSE:THC opened at $27.20 on Tuesday. The company has a debt-to-equity ratio of 24.66, a current ratio of 1.08 and a quick ratio of 1.01. Tenet Healthcare has a 1 year low of $12.45 and a 1 year high of $39.74. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 1.22 and a beta of 0.87.
A number of brokerages recently commented on THC. ValuEngine raised Tenet Healthcare from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Piper Jaffray Companies reaffirmed a “hold” rating and set a $34.00 price target on shares of Tenet Healthcare in a research report on Wednesday, August 8th. Zacks Investment Research downgraded Tenet Healthcare from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Mizuho set a $36.00 price target on Tenet Healthcare and gave the company a “buy” rating in a research report on Tuesday, August 7th. Finally, Citigroup increased their price target on Tenet Healthcare from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $30.80.
Large investors have recently added to or reduced their stakes in the business. Dupont Capital Management Corp bought a new position in shares of Tenet Healthcare in the third quarter worth $340,000. Janney Montgomery Scott LLC bought a new position in shares of Tenet Healthcare in the third quarter worth $503,000. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Tenet Healthcare by 119.9% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 43,746 shares of the company’s stock worth $1,245,000 after acquiring an additional 23,855 shares during the period. American Century Companies Inc. boosted its holdings in shares of Tenet Healthcare by 571.1% in the third quarter. American Century Companies Inc. now owns 257,471 shares of the company’s stock worth $7,328,000 after acquiring an additional 219,103 shares during the period. Finally, Smith Asset Management Group LP boosted its holdings in shares of Tenet Healthcare by 4.1% in the third quarter. Smith Asset Management Group LP now owns 84,881 shares of the company’s stock worth $2,416,000 after acquiring an additional 3,380 shares during the period.
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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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