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Equities research analysts predict that Tenet Healthcare Co. (NYSE:THC – Get Rating) will report $4.92 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Tenet Healthcare’s earnings. The lowest sales estimate is $4.91 billion and the highest is $4.94 billion. Tenet Healthcare reported sales of $4.95 billion in the same quarter last year, which indicates a negative year over year growth rate of 0.6%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Tenet Healthcare will report full year sales of $19.81 billion for the current fiscal year, with estimates ranging from $19.78 billion to $19.86 billion. For the next financial year, analysts expect that the firm will report sales of $20.81 billion, with estimates ranging from $20.66 billion to $20.94 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Tenet Healthcare.
Tenet Healthcare (NYSE:THC – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.89. Tenet Healthcare had a return on equity of 51.84% and a net margin of 4.92%. The company had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The business’s revenue was down .8% on a year-over-year basis.
THC has been the subject of several recent research reports. Credit Suisse Group boosted their price target on Tenet Healthcare from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Wednesday, February 9th. Barclays upped their price target on shares of Tenet Healthcare from $99.00 to $104.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. Jefferies Financial Group upped their price target on shares of Tenet Healthcare from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, March 7th. UBS Group upgraded Tenet Healthcare from a “neutral” rating to a “buy” rating and increased their price objective for the company from $83.00 to $111.00 in a report on Thursday, February 10th. Finally, SVB Leerink increased their price objective on Tenet Healthcare from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare currently has an average rating of “Buy” and an average price target of $102.80.
Shares of THC stock opened at $64.71 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 7.16. The stock has a market cap of $6.97 billion, a P/E ratio of 7.35, a price-to-earnings-growth ratio of 2.29 and a beta of 2.39. The stock has a 50 day simple moving average of $76.93 and a 200 day simple moving average of $78.75. Tenet Healthcare has a 1 year low of $60.49 and a 1 year high of $92.65.
In related news, Director Richard J. Mark sold 6,000 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $90.47, for a total value of $542,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of THC. Washington Trust Advisors Inc. purchased a new position in shares of Tenet Healthcare in the first quarter valued at about $34,000. Parkside Financial Bank & Trust boosted its stake in Tenet Healthcare by 1,063.9% during the first quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock worth $36,000 after acquiring an additional 383 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Tenet Healthcare during the first quarter worth about $36,000. Fifth Third Bancorp boosted its stake in Tenet Healthcare by 33.5% during the fourth quarter. Fifth Third Bancorp now owns 629 shares of the company’s stock worth $51,000 after acquiring an additional 158 shares in the last quarter. Finally, Covestor Ltd bought a new stake in Tenet Healthcare during the fourth quarter worth about $64,000. 95.41% of the stock is owned by institutional investors.
About Tenet Healthcare (Get Rating)
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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