William Blair Comments on Tenet Healthcare Corp’s FY2018 Earnings (THC)

Tenet Healthcare Corp (NYSE:THC) – Stock analysts at William Blair decreased their FY2018 earnings per share (EPS) estimates for shares of Tenet Healthcare in a report released on Tuesday, November 6th. William Blair analyst M. Larew now anticipates that the company will post earnings of $1.56 per share for the year, down from their previous estimate of $1.74. William Blair also issued estimates for Tenet Healthcare’s Q1 2019 earnings at $0.44 EPS, Q2 2019 earnings at $0.39 EPS and FY2019 earnings at $1.83 EPS.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Monday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.18. Tenet Healthcare had a negative net margin of 0.61% and a positive return on equity of 47.38%. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter last year, the business earned ($0.17) earnings per share. The business’s revenue was down 2.1% on a year-over-year basis.

THC has been the topic of several other research reports. Zacks Investment Research cut shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Monday, August 13th. JPMorgan Chase & Co. raised their target price on shares of Tenet Healthcare from $22.00 to $28.00 and gave the stock an “underweight” rating in a report on Friday, August 10th. Barclays restated a “hold” rating and issued a $27.00 target price on shares of Tenet Healthcare in a report on Wednesday. ValuEngine upgraded shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $35.00 price target on shares of Tenet Healthcare in a research note on Wednesday, August 8th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $30.56.

Shares of Tenet Healthcare stock opened at $26.29 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 21.55. Tenet Healthcare has a 52-week low of $12.45 and a 52-week high of $39.74. The company has a market capitalization of $2.73 billion, a PE ratio of 32.46, a PEG ratio of 1.23 and a beta of 0.87.

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its stake in Tenet Healthcare by 8.7% in the third quarter. FMR LLC now owns 955,120 shares of the company’s stock worth $27,183,000 after acquiring an additional 76,835 shares during the period. American International Group Inc. lifted its stake in Tenet Healthcare by 2.4% in the third quarter. American International Group Inc. now owns 222,636 shares of the company’s stock worth $6,336,000 after acquiring an additional 5,306 shares during the period. Hillsdale Investment Management Inc. lifted its stake in Tenet Healthcare by 7.1% in the third quarter. Hillsdale Investment Management Inc. now owns 45,200 shares of the company’s stock worth $1,286,000 after acquiring an additional 3,000 shares during the period. AXA purchased a new stake in Tenet Healthcare in the third quarter worth $453,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Tenet Healthcare in the third quarter worth $968,000.

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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