Zacks: Analysts Expect Tenet Healthcare Corp (THC) to Post -$0.02 EPS

Wall Street brokerages expect Tenet Healthcare Corp (NYSE:THC) to report ($0.02) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Tenet Healthcare’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at ($0.10). Tenet Healthcare posted earnings per share of ($0.27) in the same quarter last year, which suggests a positive year-over-year growth rate of 92.6%. The firm is expected to report its next earnings results on Monday, May 7th.

According to Zacks, analysts expect that Tenet Healthcare will report full-year earnings of $0.92 per share for the current financial year, with EPS estimates ranging from $0.81 to $1.03. For the next year, analysts expect that the firm will post earnings of $1.69 per share, with EPS estimates ranging from $1.08 to $2.37. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow Tenet Healthcare.

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Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Monday, February 26th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.15. Tenet Healthcare had a positive return on equity of 9.69% and a negative net margin of 3.67%. The firm had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year.

THC has been the topic of several research reports. JPMorgan Chase lowered Tenet Healthcare from a “neutral” rating to an “underweight” rating and set a $15.00 price target on the stock. in a research note on Thursday, December 14th. Wells Fargo initiated coverage on Tenet Healthcare in a research note on Tuesday, January 30th. They set a “market perform” rating and a $20.00 price target on the stock. Leerink Swann restated a “buy” rating and set a $27.00 price target on shares of Tenet Healthcare in a research note on Wednesday, December 20th. Zacks Investment Research upgraded Tenet Healthcare from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Finally, SunTrust Banks restated a “hold” rating on shares of Tenet Healthcare in a research note on Thursday, March 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $21.44.

Shares of THC opened at $24.25 on Friday. Tenet Healthcare has a 12-month low of $12.25 and a 12-month high of $25.24. The company has a debt-to-equity ratio of 27.44, a quick ratio of 1.22 and a current ratio of 1.29. The stock has a market cap of $2,451.87, a P/E ratio of 29.94, a PEG ratio of 2.09 and a beta of 1.07.

In other news, Director Ashish Dave sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $1.40, for a total value of $105,000.00. Also, Director George Fredrick Smitherman bought 125,000 shares of Tenet Healthcare stock in a transaction dated Thursday, January 25th. The stock was acquired at an average cost of $38.50 per share, for a total transaction of $4,812,500.00. Over the last quarter, insiders sold 129,600 shares of company stock worth $199,146. Corporate insiders own 3.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Elkfork Partners LLC acquired a new position in shares of Tenet Healthcare in the 4th quarter worth approximately $142,000. Pentwater Capital Management LP acquired a new position in shares of Tenet Healthcare in the 3rd quarter worth approximately $164,000. Xact Kapitalforvaltning AB acquired a new position in shares of Tenet Healthcare in the 4th quarter worth approximately $153,000. Russell Investments Group Ltd. boosted its holdings in shares of Tenet Healthcare by 182.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after acquiring an additional 6,800 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Tenet Healthcare in the 3rd quarter worth approximately $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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