Tenet Healthcare (NYSE:THC) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.10-0.48 for the period, compared to the Thomson Reuters consensus estimate of $0.54. The company issued revenue guidance of $4.420 -4.620 billion, compared to the consensus revenue estimate of $4.54 billion.Tenet Healthcare also updated its FY 2018 guidance to $1.44-1.83 EPS.
THC stock traded up $2.22 on Wednesday, reaching $26.86. 134,441 shares of the company traded hands, compared to its average volume of 1,260,530. Tenet Healthcare has a one year low of $12.45 and a one year 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. The firm has a market cap of $2.78 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 1.22 and a beta of 0.87.
Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Monday, November 5th. The company reported $0.29 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the company earned ($0.17) EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, research analysts expect that Tenet Healthcare will post 1.72 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on THC shares. JPMorgan Chase & Co. raised their price objective on Tenet Healthcare from $22.00 to $28.00 and gave the company an underweight rating in a research report on Friday, August 10th. SunTrust Banks reissued a hold rating and issued a $35.00 target price on shares of Tenet Healthcare in a report on Wednesday, August 8th. Citigroup lifted their target price on Tenet Healthcare from $37.00 to $44.00 and gave the stock a buy rating in a report on Monday, July 23rd. ValuEngine lowered Tenet Healthcare from a hold rating to a sell rating in a report on Wednesday. Finally, Zacks Investment Research raised Tenet Healthcare from a hold rating to a buy rating and set a $36.00 target price for the company in a report on Tuesday, August 14th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Tenet Healthcare has a consensus rating of Hold and a consensus target price of $30.56.
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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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