Community Health Systems, Inc. (NYSE:CYH) released its earnings results on Monday. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.47), Bloomberg Earnings reports. Community Health Systems had a positive return on equity of 0.07% and a negative net margin of 3.63%. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the company earned ($0.35) EPS. The firm’s quarterly revenue was down 16.3% compared to the same quarter last year.
Several brokerages have recently commented on CYH. ValuEngine upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. SunTrust Banks, Inc. set a $7.00 price target on shares of Community Health Systems and gave the stock a “hold” rating in a research note on Sunday, October 15th. Piper Jaffray Companies restated a “sell” rating and set a $6.00 price target on shares of Community Health Systems in a research note on Friday, October 13th. Mizuho restated a “hold” rating and set a $7.00 price target on shares of Community Health Systems in a research note on Thursday, October 12th. Finally, Jefferies Group LLC restated a “hold” rating and set a $7.00 price target on shares of Community Health Systems in a research note on Thursday, October 12th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $7.62.
In other news, major shareholder Tian Qiao Chen purchased 9,766,897 shares of the company’s stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of $7.27 per share, with a total value of $71,005,341.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.70% of the company’s stock.
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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