Zacks: Brokerages Anticipate Tenet Healthcare Corp (THC) Will Post Quarterly Sales of $4.49 Billion

Brokerages predict that Tenet Healthcare Corp (NYSE:THC) will announce sales of $4.49 billion for the current quarter, Zacks reports. Nine analysts have provided estimates for Tenet Healthcare’s earnings, with the lowest sales estimate coming in at $4.26 billion and the highest estimate coming in at $4.53 billion. Tenet Healthcare reported sales of $4.98 billion during the same quarter last year, which indicates a negative year over year growth rate of 9.8%. The firm is expected to issue its next earnings results on Monday, February 25th.

According to Zacks, analysts expect that Tenet Healthcare will report full year sales of $18.18 billion for the current financial year, with estimates ranging from $17.96 billion to $18.22 billion. For the next year, analysts forecast that the firm will post sales of $17.87 billion, with estimates ranging from $17.01 billion to $18.44 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Tenet Healthcare.

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

THC has been the subject of a number of research analyst reports. ValuEngine lowered shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. SunTrust Banks reissued a “hold” rating and issued a $35.00 price target on shares of Tenet Healthcare in a research report on Wednesday, August 8th. Piper Jaffray Companies reissued a “hold” rating and issued a $34.00 price target on shares of Tenet Healthcare in a research report on Wednesday, August 8th. Mizuho set a $36.00 price objective on shares of Tenet Healthcare and gave the company a “buy” rating in a research report on Tuesday, August 7th. Finally, Zacks Investment Research raised 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 Wednesday, August 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Tenet Healthcare currently has an average rating of “Hold” and a consensus target price of $31.13.

Several large investors have recently added to or reduced their stakes in THC. Vanguard Group Inc. raised its position in shares of Tenet Healthcare by 9.4% in the third quarter. Vanguard Group Inc. now owns 11,496,136 shares of the company’s stock valued at $327,180,000 after purchasing an additional 990,373 shares during the period. Partner Fund Management L.P. raised its position in shares of Tenet Healthcare by 22.2% in the second quarter. Partner Fund Management L.P. now owns 4,336,946 shares of the company’s stock valued at $145,591,000 after purchasing an additional 786,785 shares during the period. Morgan Stanley raised its position in shares of Tenet Healthcare by 165.3% in the second quarter. Morgan Stanley now owns 1,167,972 shares of the company’s stock valued at $39,208,000 after purchasing an additional 727,713 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Tenet Healthcare in the third quarter valued at approximately $16,949,000. Finally, Hood River Capital Management LLC bought a new position in shares of Tenet Healthcare in the second quarter valued at approximately $15,094,000.

Shares of NYSE THC traded up $22.12 during mid-day trading on Monday, reaching $22.47. The company had a trading volume of 272,455 shares, compared to its average volume of 1,418,095. The company has a debt-to-equity ratio of 21.55, a current ratio of 1.06 and a quick ratio of 0.99. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.12 and a beta of 0.87. Tenet Healthcare has a 12-month low of $12.45 and a 12-month high of $39.74.

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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