Tenet Healthcare Corporation (NYSE:THC) – Equities researchers at SunTrust Banks increased their Q4 2017 earnings estimates for Tenet Healthcare Corporation in a research report issued on Wednesday. SunTrust Banks analyst D. Macdonald now expects that the company will earn $1.75 per share for the quarter, up from their previous estimate of $1.68. SunTrust Banks also issued estimates for Tenet Healthcare Corporation’s Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.44 EPS, Q4 2018 earnings at $0.96 EPS and FY2018 earnings at $1.87 EPS.

Tenet Healthcare Corporation (NYSE:THC) last released its quarterly earnings results on Monday, August 7th. The company reported ($0.17) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative net margin of 0.97% and a negative return on equity of 2.00%. The company had revenue of $14.80 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 204.1% compared to the same quarter last year.

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THC has been the subject of several other research reports. ValuEngine downgraded Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Credit Suisse Group upped their price target on Tenet Healthcare Corporation from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, May 5th. Jefferies Group LLC reissued a “buy” rating and issued a $28.00 price objective on shares of Tenet Healthcare Corporation in a research report on Thursday, April 13th. Royal Bank Of Canada reissued a “hold” rating and issued a $25.00 price objective on shares of Tenet Healthcare Corporation in a research report on Tuesday, July 18th. Finally, Mizuho reissued a “neutral” rating and issued a $18.00 price objective on shares of Tenet Healthcare Corporation in a research report on Sunday, April 23rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $22.93.

Tenet Healthcare Corporation (NYSE THC) traded down 2.00% during trading on Thursday, hitting $13.26. 1,842,082 shares of the stock were exchanged. The firm’s 50 day moving average price is $18.46 and its 200-day moving average price is $18.10. Tenet Healthcare Corporation has a 1-year low of $13.21 and a 1-year high of $26.58. The stock’s market cap is $1.34 billion. Tenet Healthcare Corporation also was the target of unusually large options trading on Monday. Investors purchased 14,690 put options on the stock. This represents an increase of approximately 974% compared to the average daily volume of 1,368 put options.

Several hedge funds have recently added to or reduced their stakes in THC. AQR Capital Management LLC bought a new stake in Tenet Healthcare Corporation during the fourth quarter worth about $471,000. Thrivent Financial for Lutherans raised its stake in Tenet Healthcare Corporation by 10.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,820 shares of the company’s stock worth $205,000 after buying an additional 1,360 shares during the last quarter. Norges Bank bought a new stake in Tenet Healthcare Corporation during the fourth quarter worth about $18,545,000. Bank of Montreal Can raised its stake in Tenet Healthcare Corporation by 119.3% in the first quarter. Bank of Montreal Can now owns 12,667 shares of the company’s stock worth $223,000 after buying an additional 6,892 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Tenet Healthcare Corporation by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the company’s stock worth $358,000 after buying an additional 500 shares during the last quarter.

About Tenet Healthcare Corporation

Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.

Earnings History and Estimates for Tenet Healthcare Corporation (NYSE:THC)

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