Zacks: Analysts Expect Tenet Healthcare Corp (NYSE:THC) Will Post Earnings of $0.44 Per Share

Equities research analysts forecast that Tenet Healthcare Corp (NYSE:THC) will announce earnings per share of $0.44 for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Tenet Healthcare’s earnings. The highest EPS estimate is $0.51 and the lowest is $0.36. Tenet Healthcare posted earnings of $0.49 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 10.2%. The business is scheduled to announce its next earnings report on Monday, August 5th.

On average, analysts expect that Tenet Healthcare will report full year earnings of $2.32 per share for the current financial year, with EPS estimates ranging from $2.11 to $2.45. For the next year, analysts expect that the business will post earnings of $2.60 per share, with EPS estimates ranging from $1.91 to $2.96. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.25. Tenet Healthcare had a negative net margin of 0.04% and a positive return on equity of 29.29%. The business had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same quarter last year, the firm posted $0.57 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year.

THC has been the subject of several recent research reports. Raymond James raised their price objective on shares of Tenet Healthcare from $37.00 to $47.00 in a research note on Wednesday, February 27th. ValuEngine lowered shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Bank of America reissued a “neutral” rating and issued a $30.00 price objective (up previously from $21.00) on shares of Tenet Healthcare in a research note on Tuesday, February 26th. SunTrust Banks lowered their price objective on shares of Tenet Healthcare to $27.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Finally, Barclays set a $24.00 price target on shares of Tenet Healthcare and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $30.07.

Institutional investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund lifted its stake in Tenet Healthcare by 1,653.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 565,569 shares of the company’s stock worth $33,000 after acquiring an additional 533,313 shares during the last quarter. Enlightenment Research LLC acquired a new stake in Tenet Healthcare during the fourth quarter worth approximately $36,000. PNC Financial Services Group Inc. raised its holdings in Tenet Healthcare by 101.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the company’s stock worth $38,000 after purchasing an additional 682 shares in the last quarter. Pearl River Capital LLC acquired a new stake in Tenet Healthcare during the fourth quarter worth approximately $41,000. Finally, Financial Gravity Wealth Inc. acquired a new stake in Tenet Healthcare during the first quarter worth approximately $51,000. Institutional investors own 99.25% of the company’s stock.

NYSE THC opened at $21.19 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 21.98. Tenet Healthcare has a one year low of $16.60 and a one year high of $39.74. The company has a market capitalization of $2.16 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.39 and a beta of 1.64.

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

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