Brokerages Expect Tenet Healthcare Corp (THC) to Post $0.10 Earnings Per Share

Wall Street analysts forecast that Tenet Healthcare Corp (NYSE:THC) will announce earnings of $0.10 per share for the current quarter, Zacks reports. Nine analysts have made estimates for Tenet Healthcare’s earnings, with the lowest EPS estimate coming in at ($0.01) and the highest estimate coming in at $0.20. Tenet Healthcare posted earnings of ($0.17) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 158.8%. The company is scheduled to announce its next quarterly earnings results on Friday, October 26th.

According to Zacks, analysts expect that Tenet Healthcare will report full year earnings of $1.72 per share for the current year, with EPS estimates ranging from $1.61 to $1.84. For the next financial year, analysts forecast that the company will report earnings of $1.96 per share, with EPS estimates ranging from $1.34 to $2.45. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Monday, August 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.24. Tenet Healthcare had a positive return on equity of 38.91% and a negative net margin of 2.51%. The firm had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the firm posted ($0.17) EPS. The company’s revenue for the quarter was down 6.2% on a year-over-year basis.

Several brokerages have recently issued reports on THC. Zacks Investment Research downgraded shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $34.00 price target on shares of Tenet Healthcare in a report on Wednesday, August 8th. Barclays initiated coverage on shares of Tenet Healthcare in a report on Tuesday, August 14th. They issued an “equal weight” rating and a $35.00 price target on the stock. Mizuho set a $36.00 price objective on shares of Tenet Healthcare and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Finally, ValuEngine downgraded shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $30.80.

Shares of NYSE THC opened at $28.44 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.01 and a debt-to-equity ratio of 24.66. Tenet Healthcare has a one year low of $12.25 and a one year high of $39.74. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 1.27 and a beta of 0.92.

A number of hedge funds and other institutional investors have recently made changes to their positions in THC. Advisors Preferred LLC purchased a new stake in Tenet Healthcare during the 2nd quarter valued at about $163,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Tenet Healthcare in the 2nd quarter valued at approximately $166,000. Assetmark Inc. grew its stake in shares of Tenet Healthcare by 45.8% in the 2nd quarter. Assetmark Inc. now owns 5,093 shares of the company’s stock valued at $171,000 after buying an additional 1,601 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of Tenet Healthcare by 286.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 7,700 shares of the company’s stock valued at $187,000 after buying an additional 5,705 shares during the period. Finally, Vident Investment Advisory LLC purchased a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $207,000.

Tenet Healthcare Company Profile

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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