Tenet Healthcare Corp (NYSE:THC) – Leerink Swann decreased their Q4 2018 EPS estimates for shares of Tenet Healthcare in a research note issued to investors on Wednesday, November 7th. Leerink Swann analyst A. Gupte now expects that the company will post earnings per share of $0.22 for the quarter, down from their previous estimate of $0.46.
A number of other research firms have also weighed in on THC. JPMorgan Chase & Co. upped their target price on shares of Tenet Healthcare from $22.00 to $28.00 and gave the stock an “underweight” rating in a report on Friday, August 10th. SunTrust Banks reaffirmed a “hold” rating and set a $35.00 target price on shares of Tenet Healthcare in a report on Wednesday, August 8th. Citigroup upped their target price on shares of Tenet Healthcare from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, July 23rd. ValuEngine lowered shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Zacks Investment Research raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, August 14th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $30.56.
Tenet Healthcare stock opened at $26.29 on Friday. The company has a debt-to-equity ratio of 21.55, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market cap of $2.53 billion, a P/E ratio of 32.46, a PEG ratio of 1.12 and a beta of 0.87. Tenet Healthcare has a 1-year low of $12.45 and a 1-year high of $39.74.
Tenet Healthcare (NYSE:THC) last posted its earnings results on Monday, November 5th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.18. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.37 billion. Tenet Healthcare had a negative net margin of 0.61% and a positive return on equity of 47.38%. Tenet Healthcare’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.17) EPS.
Several large investors have recently modified their holdings of THC. UBS Group AG increased its holdings in shares of Tenet Healthcare by 13.4% in the 1st quarter. UBS Group AG now owns 88,181 shares of the company’s stock worth $2,138,000 after buying an additional 10,426 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Tenet Healthcare by 286.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 7,700 shares of the company’s stock worth $187,000 after buying an additional 5,705 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Tenet Healthcare by 5.6% in the 1st quarter. Principal Financial Group Inc. now owns 368,795 shares of the company’s stock worth $8,943,000 after buying an additional 19,705 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Tenet Healthcare by 2.7% in the 1st quarter. Allianz Asset Management GmbH now owns 150,325 shares of the company’s stock valued at $3,645,000 after purchasing an additional 3,950 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Tenet Healthcare in the 2nd quarter valued at $450,000.
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.
Further Reading: Earnings Per Share
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