Tenet Healthcare Corp to Post Q4 2017 Earnings of $1.24 Per Share, William Blair Forecasts (THC)

Tenet Healthcare Corp (NYSE:THC) – Investment analysts at William Blair boosted their Q4 2017 earnings per share (EPS) estimates for Tenet Healthcare in a report released on Tuesday, Zacks Investment Research reports. William Blair analyst M. Larew now anticipates that the company will post earnings per share of $1.24 for the quarter, up from their prior forecast of $1.23. William Blair currently has a “Market Perform” rating on the stock. William Blair also issued estimates for Tenet Healthcare’s Q1 2018 earnings at $0.03 EPS, Q2 2018 earnings at $0.21 EPS, Q4 2018 earnings at $0.73 EPS and FY2018 earnings at $1.17 EPS.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Monday, November 6th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.23. The business had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.94 billion. Tenet Healthcare had a negative return on equity of 739.56% and a negative net margin of 6.28%. Tenet Healthcare’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share.

Other research analysts have also issued reports about the company. Jefferies Group restated a “buy” rating and issued a $24.00 target price on shares of Tenet Healthcare in a research note on Thursday, September 21st. Robert W. Baird reiterated a “buy” rating and set a $23.00 price objective on shares of Tenet Healthcare in a research note on Thursday, September 28th. Citigroup upgraded Tenet Healthcare from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 12th. Leerink Swann reiterated a “buy” rating and set a $27.00 price objective on shares of Tenet Healthcare in a research note on Wednesday, December 20th. Finally, Morgan Stanley dropped their price objective on Tenet Healthcare from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, November 9th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $18.50.

Shares of Tenet Healthcare (NYSE:THC) traded up $0.82 during midday trading on Thursday, hitting $16.25. The company had a trading volume of 5,450,700 shares, compared to its average volume of 2,302,733. The company has a quick ratio of 1.21, a current ratio of 1.28 and a debt-to-equity ratio of 21.21. The firm has a market capitalization of $1,640.00, a price-to-earnings ratio of -2.95, a price-to-earnings-growth ratio of 2.13 and a beta of 1.17. Tenet Healthcare has a twelve month low of $12.25 and a twelve month high of $22.72.

Several hedge funds have recently made changes to their positions in THC. Riverhead Capital Management LLC grew its holdings in shares of Tenet Healthcare by 67.3% during the second quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock worth $152,000 after purchasing an additional 3,161 shares during the last quarter. Flinton Capital Management LLC grew its holdings in shares of Tenet Healthcare by 65.7% during the second quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after purchasing an additional 3,128 shares during the last quarter. Pentwater Capital Management LP bought a new stake in shares of Tenet Healthcare during the third quarter worth $164,000. Russell Investments Group Ltd. grew its holdings in shares of Tenet Healthcare by 182.6% during the third quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after purchasing an additional 6,800 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Tenet Healthcare during the third quarter worth $183,000.

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Tenet Healthcare 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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Earnings History and Estimates for Tenet Healthcare (NYSE:THC)

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