Ardent Health Partners (NYSE:ARDT) Releases FY 2024 Earnings Guidance

Ardent Health Partners (NYSE:ARDT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.230-1.370 for the period, compared to the consensus earnings per share estimate of 1.260. The company issued revenue guidance of $5.8 billion-$5.9 billion, compared to the consensus revenue estimate of $5.8 billion.

Ardent Health Partners Trading Down 10.0 %

Shares of NYSE ARDT traded down $1.80 during midday trading on Wednesday, hitting $16.25. 563,339 shares of the stock traded hands, compared to its average volume of 377,330. Ardent Health Partners has a one year low of $15.00 and a one year high of $20.72. The company’s 50 day moving average is $18.58. The company has a quick ratio of 1.54, a current ratio of 1.65 and a debt-to-equity ratio of 0.93.

Ardent Health Partners (NYSE:ARDT) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. As a group, equities analysts expect that Ardent Health Partners will post 1.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on ARDT. Bank of America lowered Ardent Health Partners from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $19.00 in a report on Wednesday. Leerink Partnrs upgraded Ardent Health Partners to a “strong-buy” rating in a research report on Monday, August 12th. Truist Financial began coverage on Ardent Health Partners in a research note on Monday, August 12th. They set a “buy” rating and a $21.00 price objective on the stock. Mizuho began coverage on Ardent Health Partners in a research note on Monday, August 12th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Loop Capital began coverage on Ardent Health Partners in a report on Monday, August 12th. They set a “buy” rating and a $18.00 target price for the company. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $21.64.

About Ardent Health Partners

Ardent Health Partners, Inc owns and operates a network of hospitals and clinics that provides a range of healthcare services in the United States. It operates acute care hospitals, including rehabilitation hospitals and surgical hospitals. The company was founded in 2001 and is based in Brentwood, Tennessee.