Tenet Healthcare (THC) Announces Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Tenet Healthcare (NYSE:THC) issued its quarterly earnings data on Monday. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.18, Briefing.com reports. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.37 billion. Tenet Healthcare had a negative net margin of 2.51% and a positive return on equity of 38.91%. Tenet Healthcare’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) EPS.

Tenet Healthcare stock opened at $24.64 on Wednesday. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 1.22 and a beta of 0.87. The company has a debt-to-equity ratio of 24.66, a quick ratio of 1.01 and a current ratio of 1.08. Tenet Healthcare has a 52 week low of $12.45 and a 52 week high of $39.74.

A number of institutional investors have recently added to or reduced their stakes in THC. SG Americas Securities LLC grew its stake in shares of Tenet Healthcare by 330.3% in the 3rd quarter. SG Americas Securities LLC now owns 149,361 shares of the company’s stock worth $4,251,000 after purchasing an additional 114,651 shares during the last quarter. Systematic Financial Management LP grew its stake in shares of Tenet Healthcare by 7.8% in the 3rd quarter. Systematic Financial Management LP now owns 40,415 shares of the company’s stock worth $1,150,000 after purchasing an additional 2,920 shares during the last quarter. Dupont Capital Management Corp acquired a new position in shares of Tenet Healthcare in the 3rd quarter worth approximately $340,000. Janney Montgomery Scott LLC acquired a new position in shares of Tenet Healthcare in the 3rd quarter worth approximately $503,000. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Tenet Healthcare by 119.9% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 43,746 shares of the company’s stock worth $1,245,000 after purchasing an additional 23,855 shares during the last quarter.

Several analysts recently weighed in on THC shares. Zacks Investment Research upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Tuesday, August 14th. ValuEngine cut shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. SunTrust Banks reissued a “hold” rating and set a $35.00 target price on shares of Tenet Healthcare in a research note on Wednesday, August 8th. Barclays began coverage on shares of Tenet Healthcare in a research note on Tuesday, August 14th. They set an “equal weight” rating and a $35.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Tenet Healthcare from $22.00 to $28.00 and gave the company an “underweight” rating in a research note on Friday, August 10th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $30.27.

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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.

Further Reading: Book Value Per Share – BVPS

Earnings History for Tenet Healthcare (NYSE:THC)

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