FY2018 EPS Estimates for Tenet Healthcare Corp Decreased by Piper Jaffray Companies (THC)

Tenet Healthcare Corp (NYSE:THC) – Research analysts at Piper Jaffray Companies decreased their FY2018 earnings estimates for shares of Tenet Healthcare in a research note issued on Tuesday, November 6th. Piper Jaffray Companies analyst S. James now forecasts that the company will post earnings per share of $1.64 for the year, down from their prior forecast of $1.84. Piper Jaffray Companies has a “Hold” rating and a $34.00 price target on the stock. Piper Jaffray Companies also issued estimates for Tenet Healthcare’s Q4 2018 earnings at $0.28 EPS, Q1 2019 earnings at $0.39 EPS and Q4 2019 earnings at $0.83 EPS.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Monday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.18. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Tenet Healthcare had a negative net margin of 0.61% and a positive return on equity of 47.38%. The business’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.

THC has been the topic of several other research reports. ValuEngine raised shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Barclays restated a “hold” rating and set a $27.00 target price on shares of Tenet Healthcare in a research note on Wednesday. Zacks Investment Research upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Wednesday, August 8th. Mizuho set a $36.00 target price on shares of Tenet Healthcare and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Finally, Robert W. Baird restated a “buy” rating and set a $35.00 target price on shares of Tenet Healthcare in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Tenet Healthcare presently has a consensus rating of “Hold” and a consensus price target of $30.56.

Shares of THC opened at $26.29 on Friday. The stock has a market cap of $2.53 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 1.12 and a beta of 0.87. Tenet Healthcare has a 1 year low of $12.45 and a 1 year high of $39.74. The company has a debt-to-equity ratio of 21.55, a quick ratio of 1.01 and a current ratio of 1.06.

A number of institutional investors have recently made changes to their positions in THC. Advisors Preferred LLC purchased a new position in Tenet Healthcare in the second quarter valued at approximately $163,000. NumerixS Investment Technologies Inc purchased a new position in Tenet Healthcare in the second quarter valued at approximately $166,000. Assetmark Inc. increased its stake in Tenet Healthcare by 45.8% in the second quarter. Assetmark Inc. now owns 5,093 shares of the company’s stock valued at $171,000 after purchasing an additional 1,601 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Tenet Healthcare by 286.0% in the first quarter. Cubist Systematic Strategies LLC now owns 7,700 shares of the company’s stock valued at $187,000 after purchasing an additional 5,705 shares during the last quarter. Finally, Vident Investment Advisory LLC purchased a new position in Tenet Healthcare in the second quarter valued at approximately $207,000.

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.

See Also: Momentum Indicator: Relative Strength Index

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

Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply