Community Health Systems (NYSE:CYH) Posts Earnings Results, Beats Estimates By $0.05 EPS

Community Health Systems (NYSE:CYH) released its quarterly earnings results on Wednesday. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05, Briefing.com reports. Community Health Systems had a negative net margin of 0.99% and a negative return on equity of 5.51%. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the firm earned ($0.43) earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. Community Health Systems updated its FY 2024 guidance to -0.650–0.050 EPS.

Community Health Systems Price Performance

Shares of Community Health Systems stock opened at $3.25 on Friday. The company’s fifty day simple moving average is $3.08 and its two-hundred day simple moving average is $3.06. Community Health Systems has a 12-month low of $2.01 and a 12-month high of $6.53.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CYH shares. Oppenheimer decreased their price objective on shares of Community Health Systems from $5.50 to $4.50 and set an “outperform” rating for the company in a report on Thursday. Barclays started coverage on shares of Community Health Systems in a report on Wednesday, March 6th. They set an “equal weight” rating and a $3.00 price objective for the company. Finally, StockNews.com upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.00.

Community Health Systems Company Profile

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It 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.