Community Health Systems (NYSE:CYH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Friday, Zacks.com reports. The brokerage currently has a $3.25 price target on the stock. Zacks Investment Research‘s target price points to a potential downside of 3.27% from the company’s previous close.
According to Zacks, “Community Health continues to acquire hospitals to expand its number of licensed beds. It targets hospitals that cater to relatively non-urban and suburban communities, where management can add value through specialty medical service expansion, economies of scale, additional investment in new technology and improved process management. It has also been putting in efforts to reduce its expenses. Frequent divestitures to streamline its core operations have helped it lower its debt burden. Shares of the company have underperformed its industry in a year's time. However, Community Health has seen a persistent decline in revenues due to reduced admissions, which has been putting pressure on the bottom line. Moreover, a weak 2019 guidance remains a concern. Loss per share from continuing operations is now estimated between $1.75 and $1.85 for 2019.”
Several other equities research analysts have also issued reports on CYH. SunTrust Banks lowered their target price on shares of Community Health Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. ValuEngine upgraded Community Health Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $3.63.
Shares of NYSE:CYH traded up $0.21 during trading on Friday, hitting $3.36. 995,986 shares of the stock traded hands, compared to its average volume of 2,166,610. The company has a market cap of $381.82 million, a price-to-earnings ratio of -1.73 and a beta of 2.36. The company has a fifty day moving average price of $3.00 and a two-hundred day moving average price of $2.99. Community Health Systems has a 52-week low of $1.79 and a 52-week high of $5.35.
Community Health Systems (NYSE:CYH) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.30. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the company posted ($1.64) earnings per share. The business’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, equities research analysts anticipate that Community Health Systems will post -1.73 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank lifted its holdings in Community Health Systems by 2.8% during the third quarter. Comerica Bank now owns 109,572 shares of the company’s stock valued at $469,000 after purchasing an additional 2,977 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in Community Health Systems by 8.5% in the 3rd quarter. State of Tennessee Treasury Department now owns 50,787 shares of the company’s stock worth $183,000 after buying an additional 3,993 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Community Health Systems by 3.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 162,663 shares of the company’s stock worth $434,000 after buying an additional 5,141 shares in the last quarter. Royal Bank of Canada increased its stake in Community Health Systems by 72.6% during the 2nd quarter. Royal Bank of Canada now owns 12,377 shares of the company’s stock worth $33,000 after buying an additional 5,205 shares in the last quarter. Finally, Keybank National Association OH raised its holdings in shares of Community Health Systems by 56.6% during the third quarter. Keybank National Association OH now owns 27,500 shares of the company’s stock valued at $99,000 after acquiring an additional 9,936 shares during the last quarter. 93.97% of the stock is currently owned by hedge funds and other institutional investors.
About Community Health Systems
Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.
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