Tenet Healthcare Corp (THC) Expected to Post Earnings of $0.10 Per Share

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Wall Street brokerages expect Tenet Healthcare Corp (NYSE:THC) to post earnings per share (EPS) of $0.10 for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Tenet Healthcare’s earnings. The lowest EPS estimate is ($0.01) and the highest is $0.20. Tenet Healthcare reported earnings per share of ($0.17) in the same quarter last year, which would suggest a positive year-over-year growth rate of 158.8%. The firm is expected to issue its next earnings report on Friday, October 26th.

On average, analysts expect that Tenet Healthcare will report full-year earnings of $1.70 per share for the current financial year, with EPS estimates ranging from $1.61 to $1.84. For the next year, analysts forecast that the company will post earnings of $1.97 per share, with EPS estimates ranging from $1.52 to $2.45. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Monday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.24. Tenet Healthcare had a positive return on equity of 38.91% and a negative net margin of 2.51%. The firm had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period in the prior year, the business earned ($0.17) EPS. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year.

A number of research analysts have commented on THC shares. Mizuho reaffirmed a “buy” rating and set a $35.00 price target on shares of Tenet Healthcare in a research report on Wednesday, May 9th. Citigroup upped their price target on Tenet Healthcare from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, May 8th. ValuEngine upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised Tenet Healthcare from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Monday, May 28th. Finally, Barclays assumed coverage on Tenet Healthcare in a report on Tuesday, August 14th. They set an “equal weight” rating and a $35.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. Tenet Healthcare currently has an average rating of “Hold” and a consensus target price of $30.24.

Shares of NYSE THC traded up $0.49 during midday trading on Thursday, reaching $33.20. The company had a trading volume of 1,590,200 shares, compared to its average volume of 2,092,356. Tenet Healthcare has a one year low of $12.25 and a one year high of $39.74. The company has a current ratio of 1.08, a quick ratio of 1.01 and a debt-to-equity ratio of 24.66. The firm has a market cap of $3.48 billion, a PE ratio of 40.52, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05.

Large investors have recently bought and sold shares of the business. James Investment Research Inc. purchased a new stake in Tenet Healthcare in the second quarter valued at $2,520,000. GVO Asset Management Ltd purchased a new stake in Tenet Healthcare in the second quarter valued at $1,101,000. Prudential Financial Inc. boosted its holdings in Tenet Healthcare by 390.1% in the first quarter. Prudential Financial Inc. now owns 266,945 shares of the company’s stock valued at $6,473,000 after purchasing an additional 212,480 shares during the last quarter. Sei Investments Co. boosted its holdings in Tenet Healthcare by 9.0% in the second quarter. Sei Investments Co. now owns 506,380 shares of the company’s stock valued at $16,999,000 after purchasing an additional 41,761 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Tenet Healthcare by 4.3% in the first quarter. Swiss National Bank now owns 175,600 shares of the company’s stock worth $4,258,000 after acquiring an additional 7,300 shares during the period.

About Tenet Healthcare

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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