Analysts expect Community Health Systems, Inc. (NYSE:CYH) to announce $3.73 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Community Health Systems’ earnings. The lowest sales estimate is $3.55 billion and the highest is $3.97 billion. Community Health Systems posted sales of $4.38 billion in the same quarter last year, which would indicate a negative year over year growth rate of 14.8%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Community Health Systems will report full-year sales of $3.73 billion for the current financial year, with estimates ranging from $15.89 billion to $16.67 billion. For the next fiscal year, analysts anticipate that the business will report sales of $14.68 billion per share, with estimates ranging from $13.71 billion to $15.61 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Community Health Systems.
Community Health Systems (NYSE:CYH) last issued its quarterly earnings results on Tuesday, August 1st. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by $0.31. Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the business earned $0.09 earnings per share. The firm’s revenue was down 9.7% on a year-over-year basis.
Several analysts recently weighed in on CYH shares. Vetr lowered Community Health Systems from a “hold” rating to a “sell” rating and set a $8.62 price target on the stock. in a report on Monday, April 17th. Zacks Investment Research lowered Community Health Systems from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 3rd. Morgan Stanley started coverage on Community Health Systems in a report on Tuesday, June 6th. They set an “underweight” rating and a $9.50 price target on the stock. BidaskClub upgraded Community Health Systems from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Piper Jaffray Companies restated a “sell” rating and set a $9.00 price target on shares of Community Health Systems in a report on Wednesday, July 26th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $8.02.
Community Health Systems (NYSE:CYH) opened at 7.45 on Friday. The firm’s 50-day moving average is $8.52 and its 200-day moving average is $8.64. Community Health Systems has a 12 month low of $4.15 and a 12 month high of $13.28. The company’s market capitalization is $833.92 million.
Several institutional investors have recently bought and sold shares of CYH. BlackRock Inc. increased its position in Community Health Systems by 38,765.3% in the first quarter. BlackRock Inc. now owns 14,685,650 shares of the company’s stock worth $130,263,000 after buying an additional 14,647,864 shares during the last quarter. Vanguard Group Inc. increased its position in Community Health Systems by 4.3% in the second quarter. Vanguard Group Inc. now owns 10,377,548 shares of the company’s stock worth $103,361,000 after buying an additional 424,006 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Community Health Systems by 131.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,957,164 shares of the company’s stock worth $49,374,000 after buying an additional 2,819,955 shares during the last quarter. Saba Capital Management L.P. increased its position in Community Health Systems by 8.8% in the first quarter. Saba Capital Management L.P. now owns 3,706,181 shares of the company’s stock worth $32,874,000 after buying an additional 300,712 shares during the last quarter. Finally, State Street Corp increased its position in Community Health Systems by 0.8% in the first quarter. State Street Corp now owns 3,292,332 shares of the company’s stock worth $29,203,000 after buying an additional 25,290 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.
About Community Health Systems
Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.
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