Tenet Healthcare Corp (NYSE:THC) – Investment analysts at Piper Jaffray Companies upped their Q2 2019 earnings estimates for Tenet Healthcare in a research report issued to clients and investors on Tuesday, November 6th. Piper Jaffray Companies analyst S. James now forecasts that the company will earn $0.44 per share for the quarter, up from their previous forecast of $0.43. 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 Q3 2019 earnings at $0.41 EPS, Q1 2020 earnings at $0.54 EPS, Q2 2020 earnings at $0.56 EPS, Q3 2020 earnings at $0.35 EPS and FY2020 earnings at $2.49 EPS.
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Tuesday, August 14th. ValuEngine lowered shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. SunTrust Banks reiterated a “hold” rating and set a $35.00 target price on shares of Tenet Healthcare in a research report on Wednesday, August 8th. Barclays started coverage on shares of Tenet Healthcare in a research report on Tuesday, August 14th. They set an “equal weight” rating and a $35.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Tenet Healthcare from $22.00 to $28.00 and gave the stock an “underweight” rating in a research report on Friday, August 10th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $30.56.
NYSE THC opened at $26.29 on Thursday. Tenet Healthcare has a 52-week low of $12.45 and a 52-week high of $39.74. The company has a debt-to-equity ratio of 21.55, a current ratio of 1.06 and a quick ratio of 1.01. The stock has a market cap of $2.73 billion, a P/E ratio of 9.69, a P/E/G ratio of 1.23 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.18. Tenet Healthcare had a negative net margin of 0.61% and a positive return on equity of 47.38%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter last year, the company posted ($0.17) earnings per share. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year.
A number of large investors have recently modified their holdings of THC. UBS Group AG boosted its position in shares of Tenet Healthcare by 13.4% in the first quarter. UBS Group AG now owns 88,181 shares of the company’s stock valued at $2,138,000 after acquiring an additional 10,426 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of 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 acquiring an additional 5,705 shares during the period. Principal Financial Group Inc. boosted its position in shares of Tenet Healthcare by 5.6% in the first quarter. Principal Financial Group Inc. now owns 368,795 shares of the company’s stock valued at $8,943,000 after acquiring an additional 19,705 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Tenet Healthcare by 2.7% in the first quarter. Allianz Asset Management GmbH now owns 150,325 shares of the company’s stock valued at $3,645,000 after acquiring an additional 3,950 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of Tenet Healthcare in the second quarter valued at approximately $450,000.
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.
Featured Article: What factors cause inflation to rise?
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.