Tenet Healthcare Corporation (NYSE:THC) – Research analysts at Jefferies Group dropped their Q4 2017 earnings per share (EPS) estimates for Tenet Healthcare Corporation in a report issued on Monday. Jefferies Group analyst B. Tanquilut now anticipates that the company will post earnings of $1.38 per share for the quarter, down from their prior forecast of $1.70. Jefferies Group has a “Buy” rating and a $20.00 price objective on the stock. Jefferies Group also issued estimates for Tenet Healthcare Corporation’s FY2018 earnings at $1.21 EPS.
Tenet Healthcare Corporation (NYSE:THC) last announced its quarterly earnings results on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). The company had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Tenet Healthcare Corporation had a negative net margin of 2.85% and a negative return on equity of 5.11%. The business’s quarterly revenue was up 204.1% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share.
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A number of other research analysts have also weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Tenet Healthcare Corporation in a research note on Thursday, August 24th. Citigroup Inc. reissued a “hold” rating and set a $16.00 price target on shares of Tenet Healthcare Corporation in a research report on Thursday, September 14th. Royal Bank Of Canada reissued a “hold” rating and set a $19.00 price target on shares of Tenet Healthcare Corporation in a research report on Monday, September 25th. Mizuho restated a “neutral” rating and set a $14.00 price objective on shares of Tenet Healthcare Corporation in a report on Sunday, August 20th. Finally, Zacks Investment Research downgraded shares of Tenet Healthcare Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.33.
Tenet Healthcare Corporation (NYSE:THC) traded down 0.21% during midday trading on Wednesday, reaching $14.25. 769,778 shares of the company traded hands. The stock’s market capitalization is $1.44 billion. The company has a 50 day moving average of $15.04 and a 200-day moving average of $16.74. Tenet Healthcare Corporation has a 12-month low of $12.25 and a 12-month high of $22.72.
A number of institutional investors have recently added to or reduced their stakes in the stock. Adams Diversified Equity Fund Inc. purchased a new stake in Tenet Healthcare Corporation in the 3rd quarter worth approximately $800,000. New Jersey Better Educational Savings Trust lifted its position in shares of Tenet Healthcare Corporation by 33.3% during the third quarter. New Jersey Better Educational Savings Trust now owns 24,000 shares of the company’s stock worth $394,000 after purchasing an additional 6,000 shares during the last quarter. Supplemental Annuity Collective Trust of NJ bought a new stake in shares of Tenet Healthcare Corporation during the third quarter worth $657,000. State of New Jersey Common Pension Fund D lifted its position in shares of Tenet Healthcare Corporation by 10.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 2,062,500 shares of the company’s stock worth $33,887,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its position in shares of Tenet Healthcare Corporation by 5.9% during the third quarter. Nationwide Fund Advisors now owns 194,199 shares of the company’s stock worth $3,191,000 after purchasing an additional 10,854 shares during the last quarter.
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.
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