Equities analysts predict that Tenet Healthcare Corp (NYSE:THC) will announce sales of $4.76 billion for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Tenet Healthcare’s earnings. The lowest sales estimate is $4.68 billion and the highest is $4.83 billion. Tenet Healthcare posted sales of $4.62 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3%. The business is scheduled to issue its next earnings report on Monday, February 24th.
On average, analysts expect that Tenet Healthcare will report full-year sales of $18.40 billion for the current year, with estimates ranging from $18.20 billion to $18.50 billion. For the next year, analysts forecast that the company will post sales of $19.00 billion, with estimates ranging from $18.81 billion to $19.22 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Tenet Healthcare.
Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.30. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.46 billion. Tenet Healthcare had a negative net margin of 1.31% and a positive return on equity of 35.68%. Tenet Healthcare’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS.
In related news, EVP Audrey T. Andrews sold 65,360 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $30.59, for a total value of $1,999,362.40. Following the completion of the transaction, the executive vice president now directly owns 56,602 shares of the company’s stock, valued at $1,731,455.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Glenview Capital Management, L bought 221,875 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost of $20.50 per share, with a total value of $4,548,437.50. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group boosted its position in Tenet Healthcare by 62.4% during the second quarter. Rehmann Capital Advisory Group now owns 1,601 shares of the company’s stock worth $33,000 after purchasing an additional 615 shares during the period. Quadrant Capital Group LLC boosted its position in Tenet Healthcare by 152.6% during the third quarter. Quadrant Capital Group LLC now owns 1,546 shares of the company’s stock worth $33,000 after purchasing an additional 934 shares during the period. LS Investment Advisors LLC boosted its position in Tenet Healthcare by 52.7% during the third quarter. LS Investment Advisors LLC now owns 2,552 shares of the company’s stock worth $56,000 after purchasing an additional 881 shares during the period. Financial Architects Inc boosted its position in Tenet Healthcare by 41.6% during the third quarter. Financial Architects Inc now owns 2,775 shares of the company’s stock worth $61,000 after purchasing an additional 815 shares during the period. Finally, Point72 Hong Kong Ltd boosted its position in Tenet Healthcare by 605.4% during the second quarter. Point72 Hong Kong Ltd now owns 5,453 shares of the company’s stock worth $113,000 after purchasing an additional 4,680 shares during the period. 99.16% of the stock is owned by institutional investors and hedge funds.
NYSE THC opened at $37.21 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 30.38. Tenet Healthcare has a 12-month low of $16.60 and a 12-month high of $37.77. The company has a market capitalization of $3.83 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 0.73 and a beta of 1.79. The firm’s 50 day moving average is $30.51 and its 200-day moving average is $23.62.
Tenet Healthcare Company Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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