Tenet Healthcare Corporation (NYSE:THC) - Stock analysts at SunTrust Banks increased their Q4 2017 EPS estimates for Tenet Healthcare Corporation in a research note issued to investors on Wednesday. SunTrust Banks analyst D. Macdonald now forecasts that the company will post earnings of $1.75 per share for the quarter, up from their prior forecast of $1.68. SunTrust Banks also issued estimates for Tenet Healthcare Corporation’s Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.44 EPS, Q4 2018 earnings at $0.96 EPS and FY2018 earnings at $1.87 EPS.
Tenet Healthcare Corporation (NYSE:THC) last released its quarterly earnings results on Monday, August 7th. The company reported ($0.17) EPS for the quarter, meeting the consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative net margin of 0.97% and a negative return on equity of 2.00%. The firm had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. Tenet Healthcare Corporation’s revenue for the quarter was up 204.1% on a year-over-year basis.
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Several other equities research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Tenet Healthcare Corporation from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research report on Monday, July 10th. Jefferies Group LLC reissued a “buy” rating and issued a $28.00 price target on shares of Tenet Healthcare Corporation in a research note on Thursday, April 13th. Credit Suisse Group lifted their price target on Tenet Healthcare Corporation from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, May 15th. ValuEngine cut Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Mizuho reissued a “neutral” rating and issued a $18.00 price target on shares of Tenet Healthcare Corporation in a research note on Sunday, April 23rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Tenet Healthcare Corporation presently has an average rating of “Hold” and an average target price of $22.67.
Tenet Healthcare Corporation (NYSE:THC) traded up 4.518% during mid-day trading on Thursday, reaching $13.995. 5,030,154 shares of the company traded hands. Tenet Healthcare Corporation has a 52-week low of $13.21 and a 52-week high of $25.96. The stock’s market capitalization is $1.41 billion. The firm’s 50-day moving average is $18.34 and its 200 day moving average is $18.07.
Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC acquired a new stake in shares of Tenet Healthcare Corporation during the fourth quarter valued at approximately $471,000. Thrivent Financial for Lutherans raised its position in shares of Tenet Healthcare Corporation by 10.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,820 shares of the company’s stock valued at $205,000 after buying an additional 1,360 shares during the period. Norges Bank purchased a new position in shares of Tenet Healthcare Corporation during the fourth quarter valued at about $18,545,000. Bank of Montreal Can raised its position in shares of Tenet Healthcare Corporation by 119.3% in the first quarter. Bank of Montreal Can now owns 12,667 shares of the company’s stock valued at $223,000 after buying an additional 6,892 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in shares of Tenet Healthcare Corporation by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the company’s stock valued at $358,000 after buying an additional 500 shares during the period.
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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