Community Health Systems Inc. (CYH) Debt Trading 1.6% Higher
An issue of Community Health Systems Inc. (NYSE:CYH) bonds rose 1.6% against their face value during trading on Monday. The high-yield debt issue has a 7.125% coupon and will mature on July 15, 2020. The debt is now trading at $91.88 and was trading at $89.46 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its stock price.
Several research firms have recently weighed in on CYH. Robert W. Baird reiterated a “neutral” rating and set a $12.00 price target on shares of Community Health Systems in a research note on Monday. Citigroup Inc. set a $14.00 price target on Community Health Systems and gave the stock a “hold” rating in a research note on Monday. Vetr downgraded Community Health Systems from a “strong-buy” rating to a “hold” rating and set a $12.50 price target for the company. in a research note on Monday. Susquehanna upgraded Community Health Systems from a “neutral” rating to a “positive” rating and increased their price target for the stock from $10.78 to $18.00 in a research note on Wednesday, September 14th. Finally, Barclays PLC reiterated a “hold” rating and set a $15.00 price target on shares of Community Health Systems in a research note on Friday, August 19th. Six analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $16.32.
Shares of Community Health Systems Inc. (NYSE:CYH) opened at 11.09 on Tuesday. The company’s market capitalization is $1.23 billion. The stock has a 50 day moving average price of $11.05 and a 200-day moving average price of $13.35. Community Health Systems Inc. has a 12 month low of $9.66 and a 12 month high of $40.55.
Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.47. Community Health Systems had a negative net margin of 7.55% and a positive return on equity of 2.10%. The business earned $4.59 billion during the quarter, compared to analysts’ expectations of $4.53 billion. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. Analysts expect that Community Health Systems Inc. will post $1.34 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Williams Jones & Associates LLC purchased a new stake in Community Health Systems during the second quarter worth approximately $491,000. Mason Street Advisors LLC purchased a new stake in Community Health Systems during the second quarter worth approximately $620,000. Schwab Charles Investment Management Inc. increased its stake in Community Health Systems by 70.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 518,666 shares of the company’s stock worth $6,250,000 after buying an additional 214,668 shares in the last quarter. Bellwether Investment Group LLC purchased a new stake in Community Health Systems during the second quarter worth approximately $208,000. Finally, Stifel Financial Corp increased its stake in Community Health Systems by 22.2% in the second quarter. Stifel Financial Corp now owns 12,742 shares of the company’s stock worth $154,000 after buying an additional 2,315 shares in the last quarter. Institutional investors and hedge funds own 96.57% of the company’s stock.
Community Health Systems Company Profile
Community Health Systems, Inc is an operator of general acute care hospitals in communities. The Company provides healthcare services through the hospitals that it owns and operates and affiliated businesses in non-urban and selected urban markets throughout the United States. The Company operates through two segments: hospital operations and home care agencies operations.
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