Community Health Systems, Inc. (CYH) Expected to Announce Earnings of -$0.26 Per Share
Wall Street brokerages expect that Community Health Systems, Inc. (NYSE:CYH) will announce earnings of ($0.26) per share for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Community Health Systems’ earnings. The highest EPS estimate is ($0.02) and the lowest is ($0.52). Community Health Systems posted earnings of ($0.35) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 25.7%. The business is expected to announce its next earnings report on Tuesday, November 7th.
On average, analysts expect that Community Health Systems will report full year earnings of ($0.29) per share for the current financial year, with EPS estimates ranging from ($0.76) to $0.30. For the next year, analysts forecast that the business will report earnings of $0.10 per share, with EPS estimates ranging from ($1.02) to $1.14. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Community Health Systems.
Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Tuesday, August 1st. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.31). The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.14 billion. Community Health Systems had a positive return on equity of 0.07% and a negative net margin of 3.63%. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 earnings per share.
A number of research analysts recently commented on the company. Zacks Investment Research raised Community Health Systems from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Tuesday, July 11th. BidaskClub raised Community Health Systems from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Piper Jaffray Companies reissued a “sell” rating and issued a $9.00 price target on shares of Community Health Systems in a report on Wednesday, July 26th. Morgan Stanley assumed coverage on Community Health Systems in a report on Tuesday, June 6th. They issued an “underweight” rating and a $9.50 price target for the company. Finally, ValuEngine raised Community Health Systems from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.84.
In related news, major shareholder Tian Qiao Chen purchased 9,766,897 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of $7.27 per share, for a total transaction of $71,005,341.19. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 4.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. acquired a new stake in shares of Community Health Systems during the 2nd quarter worth approximately $107,000. World Asset Management Inc raised its position in shares of Community Health Systems by 3.2% during the 1st quarter. World Asset Management Inc now owns 12,377 shares of the company’s stock worth $110,000 after purchasing an additional 387 shares during the period. Shelton Capital Management acquired a new stake in shares of Community Health Systems during the 2nd quarter worth approximately $110,000. Airain ltd acquired a new stake in shares of Community Health Systems during the 1st quarter worth approximately $126,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Community Health Systems during the 2nd quarter worth approximately $126,000. Institutional investors and hedge funds own 94.69% of the company’s stock.
Shares of Community Health Systems (NYSE:CYH) traded up 0.55% during trading on Friday, reaching $7.28. The company had a trading volume of 1,611,479 shares. The firm’s market capitalization is $814.89 million. The firm has a 50-day moving average of $7.16 and a 200 day moving average of $8.63. Community Health Systems has a 52 week low of $4.15 and a 52 week high of $11.74.
Community Health Systems Company Profile
Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.
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