Tenet Healthcare (NYSE:THC) issued its earnings results on Tuesday. The company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.52, MarketWatch Earnings reports. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.78 billion. Tenet Healthcare had a net margin of 2.25% and a return on equity of 65.38%. The business’s revenue was up 35.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 earnings per share.
NYSE THC traded down $3.01 during trading hours on Thursday, reaching $69.24. The stock had a trading volume of 62,486 shares, compared to its average volume of 910,219. The company’s fifty day moving average is $66.97. The stock has a market cap of $7.39 billion, a PE ratio of 19.37 and a beta of 2.61. Tenet Healthcare has a 52-week low of $21.34 and a 52-week high of $73.65. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 14.86.
THC has been the subject of a number of recent analyst reports. boosted their target price on shares of Tenet Healthcare from $58.00 to $65.00 in a research note on Thursday, April 22nd. Royal Bank of Canada upped their price objective on shares of Tenet Healthcare from $57.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, April 22nd. Citigroup upped their price objective on shares of Tenet Healthcare from $58.00 to $65.00 in a research note on Thursday, April 22nd. Jefferies Financial Group reiterated a “buy” rating on shares of Tenet Healthcare in a report on Friday, June 18th. Finally, Truist boosted their target price on shares of Tenet Healthcare from $56.00 to $60.00 in a report on Thursday, April 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. Tenet Healthcare presently has a consensus rating of “Buy” and an average target price of $57.50.
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.
Further Reading: Margin
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