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.
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