Tenet Healthcare Corporation (THC) Expected to Post Quarterly Sales of $4.88 Billion

Equities analysts expect that Tenet Healthcare Corporation (NYSE:THC) will report sales of $4.88 billion for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Tenet Healthcare’s earnings, with the highest sales estimate coming in at $5.00 billion and the lowest estimate coming in at $4.79 billion. Tenet Healthcare posted sales of $4.86 billion during the same quarter last year, which suggests a positive year over year growth rate of 0.4%. The business is scheduled to announce its next quarterly earnings report on Monday, February 26th.

On average, analysts expect that Tenet Healthcare will report full year sales of $4.88 billion for the current fiscal year, with estimates ranging from $19.00 billion to $19.19 billion. For the next financial year, analysts expect that the firm will post sales of $19.17 billion per share, with estimates ranging from $18.58 billion to $19.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, November 6th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.23. Tenet Healthcare had a negative net margin of 2.85% and a negative return on equity of 5.61%. The firm had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter in the prior year, the firm earned $0.16 EPS. Tenet Healthcare’s revenue for the quarter was down 5.4% on a year-over-year basis.

Several analysts recently commented on THC shares. Deutsche Bank reiterated a “buy” rating and issued a $24.00 price target (down previously from $28.00) on shares of Tenet Healthcare in a research report on Thursday, August 10th. Jefferies Group reiterated a “buy” rating and issued a $24.00 price target (down previously from $26.00) on shares of Tenet Healthcare in a research report on Tuesday, August 8th. Robert W. Baird reiterated a “buy” rating and issued a $23.00 price target on shares of Tenet Healthcare in a research report on Thursday, August 24th. Morgan Stanley reduced their price target on shares of Tenet Healthcare from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, November 9th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $25.00 price target on shares of Tenet Healthcare in a research report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $19.00.

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its stake in Tenet Healthcare by 34.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 66,690 shares of the company’s stock valued at $1,290,000 after buying an additional 17,151 shares during the period. Private Management Group Inc. grew its stake in shares of Tenet Healthcare by 1.2% during the 2nd quarter. Private Management Group Inc. now owns 813,918 shares of the company’s stock worth $15,741,000 after purchasing an additional 9,386 shares during the period. Franklin Resources Inc. grew its stake in shares of Tenet Healthcare by 25.0% during the 2nd quarter. Franklin Resources Inc. now owns 5,000,000 shares of the company’s stock worth $96,700,000 after purchasing an additional 1,000,000 shares during the period. Proxima Capital Management LLC grew its stake in shares of Tenet Healthcare by 8.3% during the 2nd quarter. Proxima Capital Management LLC now owns 103,939 shares of the company’s stock worth $2,010,000 after purchasing an additional 8,000 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Tenet Healthcare by 5.6% during the 2nd quarter. Legal & General Group Plc now owns 290,027 shares of the company’s stock worth $5,610,000 after purchasing an additional 15,389 shares during the period.

Tenet Healthcare (NYSE THC) traded down $0.08 during mid-day trading on Friday, reaching $12.95. 4,751,632 shares of the company traded hands, compared to its average volume of 3,632,320. Tenet Healthcare has a 1 year low of $12.25 and a 1 year high of $22.72. The company has a quick ratio of 1.21, a current ratio of 1.28 and a debt-to-equity ratio of 21.21.

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About Tenet Healthcare

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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