Q3 2019 EPS Estimates for Community Health Systems (NYSE:CYH) Decreased by Jefferies Financial Group

Community Health Systems (NYSE:CYH) – Jefferies Financial Group lowered their Q3 2019 earnings estimates for Community Health Systems in a research note issued on Tuesday, August 6th. Jefferies Financial Group analyst B. Tanquilut now anticipates that the company will post earnings per share of ($0.52) for the quarter, down from their prior forecast of ($0.47). Jefferies Financial Group also issued estimates for Community Health Systems’ Q4 2019 earnings at ($0.37) EPS, FY2019 earnings at ($1.89) EPS and FY2020 earnings at ($1.07) EPS.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada restated a “hold” rating and set a $5.00 price target on shares of Community Health Systems in a research note on Thursday. Barclays set a $3.00 price objective on Community Health Systems and gave the company a “sell” rating in a research note on Wednesday, April 17th. ValuEngine upgraded Community Health Systems from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research cut Community Health Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, Piper Jaffray Companies set a $3.00 price objective on Community Health Systems and gave the company a “sell” rating in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $3.68.

NYSE:CYH opened at $2.44 on Friday. The stock’s fifty day moving average price is $2.38. Community Health Systems has a 52 week low of $1.81 and a 52 week high of $5.35. The firm has a market capitalization of $260.90 million, a PE ratio of -1.26 and a beta of 2.43.

Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.05. The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter last year, the company earned ($0.01) earnings per share. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis.

In related news, EVP Benjamin C. Fordham acquired 25,000 shares of Community Health Systems stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of $2.29 per share, for a total transaction of $57,250.00. Following the completion of the purchase, the executive vice president now owns 159,416 shares in the company, valued at $365,062.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James S. Ely III acquired 50,000 shares of Community Health Systems stock in a transaction dated Monday, May 20th. The stock was bought at an average price of $3.15 per share, for a total transaction of $157,500.00. Following the completion of the purchase, the director now owns 136,320 shares of the company’s stock, valued at approximately $429,408. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 129,000 shares of company stock worth $389,930. Insiders own 4.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased its holdings in Community Health Systems by 1,038.2% in the fourth quarter. Millennium Management LLC now owns 1,005,396 shares of the company’s stock valued at $2,835,000 after buying an additional 917,065 shares during the last quarter. Trustcore Financial Services LLC purchased a new position in Community Health Systems in the first quarter valued at $640,000. Wells Fargo & Company MN increased its holdings in Community Health Systems by 183.5% in the second quarter. Wells Fargo & Company MN now owns 192,558 shares of the company’s stock valued at $514,000 after buying an additional 124,633 shares during the last quarter. TB Alternative Assets Ltd. purchased a new position in Community Health Systems in the second quarter valued at $321,000. Finally, Geode Capital Management LLC increased its holdings in Community Health Systems by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 1,153,879 shares of the company’s stock valued at $3,253,000 after buying an additional 106,224 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

About Community Health Systems

Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.

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Earnings History and Estimates for Community Health Systems (NYSE:CYH)

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