FY2017 EPS Estimates for Tenet Healthcare Corporation (THC) Decreased by Jefferies Group

Tenet Healthcare Corporation (NYSE:THC) – Stock analysts at Jefferies Group decreased their FY2017 EPS estimates for shares of Tenet Healthcare Corporation in a report released on Monday. Jefferies Group analyst B. Tanquilut now anticipates that the company will earn $0.78 per share for the year, down from their prior forecast of $0.96. Jefferies Group has a “Buy” rating and a $20.00 price target on the stock.

A number of other research firms have also recently issued reports on THC. Mizuho reiterated a “neutral” rating and issued a $14.00 price objective on shares of Tenet Healthcare Corporation in a report on Thursday, September 14th. Credit Suisse Group cut their price objective on Tenet Healthcare Corporation from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 9th. Deutsche Bank AG reiterated a “buy” rating and issued a $24.00 price objective (down from $28.00) on shares of Tenet Healthcare Corporation in a report on Thursday, August 10th. Leerink Swann reiterated an “outperform” rating and issued a $30.00 price objective (up from $23.00) on shares of Tenet Healthcare Corporation in a report on Sunday, August 20th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $23.00 price objective on shares of Tenet Healthcare Corporation in a report on Thursday, August 10th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Tenet Healthcare Corporation currently has a consensus rating of “Hold” and an average price target of $20.33.

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Tenet Healthcare Corporation (THC) opened at 13.86 on Tuesday. The firm’s market cap is $1.40 billion. Tenet Healthcare Corporation has a one year low of $12.25 and a one year high of $22.72. The firm has a 50-day moving average price of $15.12 and a 200-day moving average price of $16.76.

Tenet Healthcare Corporation (NYSE:THC) last issued its earnings results on Monday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.17). Tenet Healthcare Corporation had a negative return on equity of 5.11% and a negative net margin of 2.85%. The business had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 204.1% compared to the same quarter last year.

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its holdings in Tenet Healthcare Corporation by 52.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock valued at $117,000 after purchasing an additional 2,266 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Tenet Healthcare Corporation by 57.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock valued at $126,000 after purchasing an additional 2,590 shares during the period. Riverhead Capital Management LLC increased its holdings in Tenet Healthcare Corporation by 67.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock valued at $152,000 after purchasing an additional 3,161 shares during the period. Flinton Capital Management LLC increased its holdings in Tenet Healthcare Corporation by 65.7% during the 2nd quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock valued at $153,000 after purchasing an additional 3,128 shares during the period. Finally, First Mercantile Trust Co. increased its holdings in Tenet Healthcare Corporation by 11.1% during the 2nd quarter. First Mercantile Trust Co. now owns 11,000 shares of the company’s stock valued at $213,000 after purchasing an additional 1,100 shares during the period.

About Tenet Healthcare Corporation

Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.

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

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