Community Health Systems (NYSE:CYH) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Community Health Systems (NYSE:CYH) announced its quarterly earnings data on Wednesday. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05, Briefing.com reports. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Community Health Systems had a negative return on equity of 5.51% and a negative net margin of 1.07%. Community Health Systems’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.43) EPS. Community Health Systems updated its FY 2024 guidance to -0.650–0.050 EPS.

Community Health Systems Trading Up 8.6 %

Shares of NYSE:CYH traded up $0.26 during trading on Thursday, reaching $3.29. 2,392,002 shares of the stock were exchanged, compared to its average volume of 2,057,207. Community Health Systems has a 12 month low of $2.01 and a 12 month high of $6.53. The firm has a market cap of $457.24 million, a PE ratio of -3.12 and a beta of 1.52. The stock has a 50-day moving average price of $3.09 and a 200-day moving average price of $3.05.

Analysts Set New Price Targets

CYH has been the subject of a number of research analyst reports. Barclays initiated coverage on Community Health Systems in a report on Wednesday, March 6th. They set an “equal weight” rating and a $3.00 price target for the company. Oppenheimer reduced their price target on Community Health Systems from $5.50 to $4.50 and set an “outperform” rating for the company in a report on Thursday. Finally, StockNews.com upgraded Community Health Systems from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Community Health Systems currently has an average rating of “Hold” and a consensus target price of $4.00.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.