Equities Analysts Offer Predictions for Tenet Healthcare Corporation’s Q3 2017 Earnings (THC)
Tenet Healthcare Corporation (NYSE:THC) – Research analysts at KeyCorp dropped their Q3 2017 earnings per share estimates for shares of Tenet Healthcare Corporation in a report issued on Tuesday. KeyCorp analyst J. Gurda now forecasts that the company will earn ($0.43) per share for the quarter, down from their previous estimate of $0.09. KeyCorp also issued estimates for Tenet Healthcare Corporation’s Q4 2017 earnings at $1.80 EPS, FY2018 earnings at $1.55 EPS and FY2019 earnings at $1.80 EPS.
Other analysts have also recently issued research reports about the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $26.00 price target (down previously from $28.00) on shares of Tenet Healthcare Corporation in a report on Saturday, April 29th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $24.00 price target (down previously from $28.00) on shares of Tenet Healthcare Corporation in a report on Thursday. Morgan Stanley initiated coverage on Tenet Healthcare Corporation in a report on Tuesday, June 6th. They issued an “equal weight” rating and a $19.00 price target on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $25.00 price target on shares of Tenet Healthcare Corporation in a report on Tuesday, July 18th. Finally, Zacks Investment Research raised Tenet Healthcare Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $22.67.
Tenet Healthcare Corporation (THC) opened at 13.39 on Friday. The company’s market cap is $1.35 billion. Tenet Healthcare Corporation has a 52-week low of $13.21 and a 52-week high of $25.96. The firm has a 50-day moving average price of $18.34 and a 200-day moving average price of $18.07.
Tenet Healthcare Corporation (NYSE:THC) last released its earnings results on Monday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative return on equity of 2.00% and a negative net margin of 0.97%. The firm had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. The business’s revenue for the quarter was up 204.1% on a year-over-year basis.
Several institutional investors have recently made changes to their positions in THC. FNY Managed Accounts LLC purchased a new position in shares of Tenet Healthcare Corporation during the first quarter worth $109,000. PNC Financial Services Group Inc. boosted its position in shares of Tenet Healthcare Corporation by 52.1% in the first quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock worth $117,000 after buying an additional 2,266 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Tenet Healthcare Corporation by 57.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock worth $126,000 after buying an additional 2,590 shares in the last quarter. Riverhead Capital Management LLC raised its position in Tenet Healthcare Corporation by 67.3% in the second quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock valued at $152,000 after buying an additional 3,161 shares during the last quarter. Finally, First Mercantile Trust Co. raised its position in Tenet Healthcare Corporation by 23.8% in the first quarter. First Mercantile Trust Co. now owns 9,900 shares of the company’s stock valued at $175,000 after buying an additional 1,900 shares during the last quarter.
Tenet Healthcare Corporation Company Profile
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.
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