Analysts Anticipate Tenet Healthcare (THC) Will Post Quarterly Sales of $4.59 Billion
Wall Street analysts expect Tenet Healthcare (NYSE:THC) to post sales of $4.59 billion for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Tenet Healthcare’s earnings, with the lowest sales estimate coming in at $4.52 billion and the highest estimate coming in at $4.68 billion. Tenet Healthcare posted sales of $4.81 billion during the same quarter last year, which suggests a negative year over year growth rate of 4.6%. The business is scheduled to issue its next earnings report after the market closes on Monday, April 30th.
On average, analysts expect that Tenet Healthcare will report full-year sales of $18.09 billion for the current financial year, with estimates ranging from $17.92 billion to $18.21 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $18.15 billion per share, with estimates ranging from $16.67 billion to $18.93 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Tenet Healthcare.
Tenet Healthcare (NYSE:THC) last posted its earnings results on Monday, February 26th. The company reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. The business had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.85 billion. Tenet Healthcare had a positive return on equity of 9.69% and a negative net margin of 3.67%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS.
In other Tenet Healthcare news, Director George Fredrick Smitherman sold 14,300 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $2.02, for a total transaction of $28,886.00. Also, Director Ashish Dave sold 75,000 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $1.40, for a total value of $105,000.00. Insiders have sold 128,300 shares of company stock valued at $149,096 in the last three months. 1.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in THC. Letko Brosseau & Associates Inc. bought a new stake in Tenet Healthcare during the fourth quarter valued at about $30,300,000. Millennium Management LLC purchased a new position in shares of Tenet Healthcare in the fourth quarter valued at about $22,655,000. Price Michael F purchased a new position in shares of Tenet Healthcare in the fourth quarter valued at about $6,064,000. Dimensional Fund Advisors LP lifted its position in shares of Tenet Healthcare by 18.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,530,802 shares of the company’s stock valued at $41,579,000 after acquiring an additional 389,144 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its position in shares of Tenet Healthcare by 446.4% in the fourth quarter. Gotham Asset Management LLC now owns 439,274 shares of the company’s stock valued at $6,659,000 after acquiring an additional 358,885 shares in the last quarter.
Shares of Tenet Healthcare stock traded down $0.38 on Wednesday, reaching $24.09. The company’s stock had a trading volume of 1,100,067 shares, compared to its average volume of 1,867,128. The firm has a market cap of $2,474.11, a price-to-earnings ratio of 29.74, a PEG ratio of 2.06 and a beta of 0.80. Tenet Healthcare has a 52 week low of $12.25 and a 52 week high of $25.24. The company has a current ratio of 1.29, a quick ratio of 1.22 and a debt-to-equity ratio of 27.44.
Tenet Healthcare Company Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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