Tenet Healthcare Corp (THC) to Post Q2 2019 Earnings of $0.44 Per Share, Piper Jaffray Companies Forecasts

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.

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

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