Tenet Healthcare (THC) Updates FY 2018 Earnings Guidance

Tenet Healthcare (NYSE:THC) updated its FY 2018 earnings guidance on Monday. The company provided earnings per share guidance of $1.44-1.83 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.74. The company issued revenue guidance of $18.1-18.3 billion, compared to the consensus revenue estimate of $18.13 billion.Tenet Healthcare also updated its Q4 guidance to $0.10-0.48 EPS.

THC has been the subject of a number of research reports. ValuEngine upgraded Tenet Healthcare from a sell rating to a hold rating in a report on Thursday, November 1st. Piper Jaffray Companies restated a hold rating and issued a $34.00 price target on shares of Tenet Healthcare in a research note on Wednesday, August 8th. Barclays began coverage on Tenet Healthcare in a research report on Tuesday, August 14th. They issued an equal weight rating and a $35.00 price objective for the company. Zacks Investment Research raised Tenet Healthcare from a hold rating to a buy rating and set a $36.00 price objective for the company in a research report on Wednesday, August 8th. Finally, Mizuho set a $36.00 price objective on Tenet Healthcare and gave the company a buy rating in a research report on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $30.80.

NYSE:THC traded down $3.42 during mid-day trading on Tuesday, hitting $23.78. 91,670 shares of the stock were exchanged, compared to its average volume of 1,260,530. The stock has a market cap of $2.78 billion, a P/E ratio of 29.44, a PEG ratio of 1.22 and a beta of 0.87. The company has a current ratio of 1.08, a quick ratio of 1.01 and a debt-to-equity ratio of 24.66. Tenet Healthcare has a fifty-two week low of $12.45 and a fifty-two week high of $39.74.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Monday, November 5th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.18. Tenet Healthcare had a positive return on equity of 38.91% and a negative net margin of 2.51%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the previous year, the firm earned ($0.17) EPS. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Tenet Healthcare will post 1.72 EPS for the current year.

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About Tenet Healthcare

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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Earnings History and Estimates for Tenet Healthcare (NYSE:THC)

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