Wall Street analysts forecast that Community Health Systems (NYSE:CYH) will announce sales of $3.36 billion for the current quarter, Zacks reports. Nine analysts have provided estimates for Community Health Systems’ earnings. The highest sales estimate is $3.45 billion and the lowest is $3.24 billion. Community Health Systems posted sales of $3.67 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 8.4%. The firm is expected to announce its next quarterly earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Community Health Systems will report full year sales of $13.90 billion for the current financial year, with estimates ranging from $13.63 billion to $14.09 billion. For the next financial year, analysts expect that the business will post sales of $13.15 billion per share, with estimates ranging from $12.74 billion to $13.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Community Health Systems.
Community Health Systems (NYSE:CYH) last posted its earnings results on Thursday, July 26th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.42. Community Health Systems had a negative net margin of 16.16% and a negative return on equity of 36.38%. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the previous year, the firm posted ($0.25) EPS. The firm’s revenue was down 14.0% on a year-over-year basis.
CYH has been the subject of a number of recent research reports. ValuEngine raised shares of Community Health Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, May 22nd. SunTrust Banks reissued a “hold” rating and set a $3.00 price objective on shares of Community Health Systems in a research report on Friday, July 20th. Cantor Fitzgerald reissued a “hold” rating and set a $6.00 price objective on shares of Community Health Systems in a research report on Tuesday, May 1st. Robert W. Baird reissued a “hold” rating and set a $4.00 price objective (down previously from $5.00) on shares of Community Health Systems in a research report on Friday, July 27th. Finally, Mizuho set a $4.00 price objective on shares of Community Health Systems and gave the company a “hold” rating in a research report on Friday, July 27th. Nine research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $4.20.
Shares of CYH stock traded down $0.05 during mid-day trading on Friday, reaching $3.47. 182,665 shares of the company’s stock traded hands, compared to its average volume of 2,625,165. Community Health Systems has a 12 month low of $2.66 and a 12 month high of $7.93. The company has a debt-to-equity ratio of -17.03, a current ratio of 1.79 and a quick ratio of 1.58. The company has a market cap of $396.42 million, a price-to-earnings ratio of -2.85 and a beta of 1.68.
In other news, insider Patton Paul Smith bought 10,000 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were bought at an average price of $3.51 per share, for a total transaction of $35,100.00. Following the purchase, the insider now owns 103,417 shares in the company, valued at $362,993.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 30,655 shares of company stock worth $108,345. 3.80% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. LPL Financial LLC lifted its stake in Community Health Systems by 46.8% in the 1st quarter. LPL Financial LLC now owns 111,612 shares of the company’s stock worth $442,000 after purchasing an additional 35,579 shares in the last quarter. CQS Cayman LP purchased a new stake in Community Health Systems in the 1st quarter worth $1,070,000. Cubist Systematic Strategies LLC lifted its stake in Community Health Systems by 885.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 84,494 shares of the company’s stock worth $335,000 after purchasing an additional 75,920 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Community Health Systems by 16.6% in the 1st quarter. Wells Fargo & Company MN now owns 217,656 shares of the company’s stock worth $863,000 after purchasing an additional 30,991 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Community Health Systems by 6.7% in the 1st quarter. Swiss National Bank now owns 199,826 shares of the company’s stock worth $791,000 after purchasing an additional 12,500 shares in the last quarter. Institutional investors and hedge funds own 98.13% of the company’s stock.
Community Health Systems Company Profile
Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. It 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.
See Also: Investing in Dividend Stocks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Community Health Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Health Systems and related companies with MarketBeat.com's FREE daily email newsletter.