Quorum Health Corporation (QHC) Posts Earnings Results
Quorum Health Corporation (NYSE:QHC) announced its earnings results on Wednesday. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.24, Bloomberg Earnings reports. Quorum Health Corporation had a negative return on equity of 60.49% and a negative net margin of 16.94%. The company had revenue of $530.15 million for the quarter, compared to analyst estimates of $513.50 million. During the same period in the prior year, the company posted ($0.82) EPS. Quorum Health Corporation’s quarterly revenue was up .1% on a year-over-year basis.
Quorum Health Corporation (QHC) traded down 2.55% during midday trading on Wednesday, hitting $3.06. The company had a trading volume of 374,756 shares. Quorum Health Corporation has a one year low of $2.54 and a one year high of $10.12. The company’s 50 day moving average is $3.80 and its 200-day moving average is $5.52. The company’s market cap is $92.73 million.
In other Quorum Health Corporation news, insider Thomas Daniel Miller acquired 185,000 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was purchased at an average price of $2.85 per share, for a total transaction of $527,250.00. Following the transaction, the insider now owns 814,139 shares in the company, valued at approximately $2,320,296.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Shaheed Koury acquired 8,500 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was acquired at an average price of $3.56 per share, with a total value of $30,260.00. Following the transaction, the senior vice president now owns 88,680 shares in the company, valued at approximately $315,700.80. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 197,500 shares of company stock valued at $568,190. Corporate insiders own 4.70% of the company’s stock.
A number of equities analysts have issued reports on QHC shares. Zacks Investment Research raised Quorum Health Corporation from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Saturday, July 22nd. Credit Suisse Group reaffirmed a “neutral” rating and issued a $3.25 target price (down from $5.00) on shares of Quorum Health Corporation in a research report on Wednesday, May 17th. Finally, Morgan Stanley started coverage on Quorum Health Corporation in a research report on Tuesday, June 6th. They issued an “underweight” rating and a $3.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $4.57.
About Quorum Health Corporation
Quorum Health Corporation is an operator and manager of general acute care hospitals and outpatient services in the United States. The Company operates in two segments: Hospital operations, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services, and hospital management advisory and consulting services, which includes Quorum Health Resources, LLC (QHR).
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