$4.55 Billion in Sales Expected for Tenet Healthcare Corp (THC) This Quarter

Brokerages forecast that Tenet Healthcare Corp (NYSE:THC) will post $4.55 billion in sales for the current quarter, Zacks reports. Eight analysts have made estimates for Tenet Healthcare’s earnings, with the lowest sales estimate coming in at $4.46 billion and the highest estimate coming in at $4.61 billion. Tenet Healthcare posted sales of $4.80 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 5.2%. The firm is scheduled to announce its next quarterly earnings results on Monday, August 6th.

According to Zacks, analysts expect that Tenet Healthcare will report full year sales of $18.14 billion for the current financial year, with estimates ranging from $18.08 billion to $18.21 billion. For the next fiscal year, analysts anticipate that the company will report sales of $18.08 billion per share, with estimates ranging from $16.86 billion to $18.89 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Monday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.61. The company had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.56 billion. Tenet Healthcare had a negative net margin of 2.90% and a positive return on equity of 23.13%. Tenet Healthcare’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.27) EPS.



Several research analysts have weighed in on the stock. Zacks Investment Research cut shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Wednesday. Mizuho reissued a “buy” rating and issued a $35.00 price target on shares of Tenet Healthcare in a report on Wednesday, May 9th. Citigroup increased their price target on shares of Tenet Healthcare from $27.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, May 8th. Credit Suisse Group increased their price target on shares of Tenet Healthcare from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, May 4th. Finally, Morgan Stanley increased their price target on shares of Tenet Healthcare from $16.00 to $24.00 and gave the company an “underweight” rating in a report on Wednesday, May 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Tenet Healthcare presently has an average rating of “Hold” and a consensus price target of $26.69.

Tenet Healthcare stock traded down $0.25 during trading hours on Friday, hitting $36.31. The company had a trading volume of 1,652,251 shares, compared to its average volume of 1,578,067. The stock has a market cap of $3.73 billion, a P/E ratio of 44.83, a P/E/G ratio of 1.82 and a beta of 0.93. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 23.09. Tenet Healthcare has a one year low of $12.25 and a one year high of $38.81.

Large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC grew its position in shares of Tenet Healthcare by 286.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 7,700 shares of the company’s stock worth $187,000 after purchasing an additional 5,705 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $208,000. Elkfork Partners LLC acquired a new position in shares of Tenet Healthcare during the 4th quarter worth approximately $142,000. Teza Capital Management LLC acquired a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $237,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $153,000.

About Tenet Healthcare

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

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