-$0.52 Earnings Per Share Expected for Community Health Systems (NYSE:CYH) This Quarter

Brokerages forecast that Community Health Systems (NYSE:CYH) will report ($0.52) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Community Health Systems’ earnings. The lowest EPS estimate is ($0.80) and the highest is ($0.22). Community Health Systems reported earnings of ($1.64) per share during the same quarter last year, which would suggest a positive year over year growth rate of 68.3%. The firm is expected to issue its next quarterly earnings report on Monday, November 4th.

According to Zacks, analysts expect that Community Health Systems will report full-year earnings of ($1.80) per share for the current financial year, with EPS estimates ranging from ($2.23) to ($1.21). For the next fiscal year, analysts anticipate that the company will post earnings of ($1.20) per share, with EPS estimates ranging from ($1.88) to ($0.78). Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Community Health Systems.

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 the consensus estimate of ($0.52) by $0.05. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.20 billion. The business’s revenue was down 7.3% on a year-over-year basis. During the same period last year, the firm posted ($0.01) earnings per share.

CYH has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $5.00 target price on shares of Community Health Systems in a research report on Thursday, August 8th. Piper Jaffray Companies set a $3.00 target price on Community Health Systems and gave the company a “sell” rating in a research report on Wednesday, August 7th. Finally, ValuEngine raised Community Health Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $3.68.

Community Health Systems stock traded up $0.18 during midday trading on Wednesday, hitting $4.23. 2,253,344 shares of the company were exchanged, compared to its average volume of 2,212,010. The company’s fifty day moving average price is $3.43 and its 200-day moving average price is $2.97. Community Health Systems has a fifty-two week low of $1.79 and a fifty-two week high of $5.35. The company has a market cap of $478.10 million, a PE ratio of -2.18 and a beta of 2.37.

In other news, CEO Wayne T. Smith purchased 1,200,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average cost of $1.99 per share, with a total value of $2,388,000.00. Following the transaction, the chief executive officer now owns 3,132,082 shares in the company, valued at approximately $6,232,843.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Benjamin C. Fordham purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average cost of $1.85 per share, for a total transaction of $46,250.00. Following the completion of the transaction, the executive vice president now owns 184,416 shares in the company, valued at approximately $341,169.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 1,250,000 shares of company stock worth $2,491,500. 4.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the stock. Invesco Ltd. raised its position in shares of Community Health Systems by 174.0% during the 2nd quarter. Invesco Ltd. now owns 3,567,675 shares of the company’s stock valued at $9,525,000 after acquiring an additional 2,265,615 shares in the last quarter. Northern Trust Corp raised its position in shares of Community Health Systems by 3.6% during the 2nd quarter. Northern Trust Corp now owns 1,161,698 shares of the company’s stock valued at $3,102,000 after acquiring an additional 40,433 shares in the last quarter. Morgan Stanley raised its position in shares of Community Health Systems by 353.2% during the 2nd quarter. Morgan Stanley now owns 709,010 shares of the company’s stock valued at $1,893,000 after acquiring an additional 552,548 shares in the last quarter. Systematic Financial Management LP raised its position in shares of Community Health Systems by 6.9% during the 2nd quarter. Systematic Financial Management LP now owns 295,610 shares of the company’s stock valued at $789,000 after acquiring an additional 19,195 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Community Health Systems by 183.5% during the 2nd quarter. Wells Fargo & Company MN now owns 192,558 shares of the company’s stock valued at $514,000 after acquiring an additional 124,633 shares in the last quarter. 96.49% of the stock is currently owned by institutional investors and hedge funds.

Community Health Systems Company Profile

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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