Leerink Swann Weighs in on Tenet Healthcare Corp’s Q4 2018 Earnings (THC)

Tenet Healthcare Corp (NYSE:THC) – Stock analysts at Leerink Swann decreased their Q4 2018 earnings per share (EPS) estimates for Tenet Healthcare in a research note issued on Wednesday, November 7th. Leerink Swann analyst A. Gupte now expects that the company will earn $0.22 per share for the quarter, down from their prior forecast of $0.46.

A number of other analysts have also recently weighed in on THC. ValuEngine cut Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Wednesday. Barclays restated a “hold” rating and set a $27.00 target price on shares of Tenet Healthcare in a report on Wednesday. Robert W. Baird restated a “buy” rating and set a $35.00 target price on shares of Tenet Healthcare in a report on Wednesday. Piper Jaffray Companies restated a “hold” rating and set a $34.00 target price on shares of Tenet Healthcare in a report on Wednesday, August 8th. Finally, Zacks Investment Research cut Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $30.56.

Shares of NYSE:THC opened at $26.40 on Friday. Tenet Healthcare has a fifty-two week low of $12.45 and a fifty-two week high of $39.74. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 32.59, a P/E/G ratio of 1.12 and a beta of 0.87. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 21.55.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Monday, November 5th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.18. Tenet Healthcare had a positive return on equity of 47.38% and a negative net margin of 0.61%. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the prior year, the business posted ($0.17) earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year.

Several hedge funds have recently made changes to their positions in THC. UBS Group AG grew its holdings in shares of Tenet Healthcare by 13.4% during the first quarter. UBS Group AG now owns 88,181 shares of the company’s stock worth $2,138,000 after purchasing an additional 10,426 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Tenet Healthcare by 286.0% during the first quarter. Cubist Systematic Strategies LLC now owns 7,700 shares of the company’s stock valued at $187,000 after acquiring an additional 5,705 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Tenet Healthcare by 5.6% during the first quarter. Principal Financial Group Inc. now owns 368,795 shares of the company’s stock valued at $8,943,000 after acquiring an additional 19,705 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Tenet Healthcare by 2.7% during the first quarter. Allianz Asset Management GmbH now owns 150,325 shares of the company’s stock valued at $3,645,000 after acquiring an additional 3,950 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of Tenet Healthcare during the second quarter valued at $450,000.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

Further Reading: Understanding Market Liquidity

Earnings History and Estimates for Tenet Healthcare (NYSE:THC)

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