Tenet Healthcare (NYSE:THC) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 4.120-5.460 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.180. The company issued revenue guidance of $19.40 billion-$19.80 billion, compared to the consensus revenue estimate of $19.40 billion.Tenet Healthcare also updated its Q2 2021 guidance to 0.690-1.390 EPS.
Shares of NYSE THC traded up $1.00 during mid-day trading on Tuesday, reaching $63.30. 25,469 shares of the company traded hands, compared to its average volume of 1,086,214. Tenet Healthcare has a fifty-two week low of $15.19 and a fifty-two week high of $63.13. The stock has a market cap of $6.74 billion, a PE ratio of -486.92, a price-to-earnings-growth ratio of 8.49 and a beta of 2.66. The company has a debt-to-equity ratio of 29.81, a quick ratio of 1.28 and a current ratio of 1.34. The company’s fifty day moving average is $53.83 and its two-hundred day moving average is $44.28.
Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Monday, April 19th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.50. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.73 billion. Tenet Healthcare had a negative net margin of 0.07% and a positive return on equity of 82.39%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 EPS. Research analysts forecast that Tenet Healthcare will post 4.27 earnings per share for the current year.
In other Tenet Healthcare news, CFO Daniel J. Cancelmi sold 143,602 shares of the stock in a transaction dated Friday, March 12th. The stock was sold at an average price of $55.29, for a total transaction of $7,939,754.58. Following the completion of the transaction, the chief financial officer now owns 399,500 shares in the company, valued at approximately $22,088,355. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Glenview Capital Management, L sold 122,090 shares of the company’s stock in a transaction that occurred on Wednesday, April 21st. The stock was sold at an average price of $55.32, for a total value of $6,754,018.80. The disclosure for this sale can be found here. In the last three months, insiders sold 2,836,392 shares of company stock worth $151,959,533. 1.70% of the stock is currently owned by company insiders.
About Tenet Healthcare
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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