Community Health Systems (CYH) Bonds Drop 2.5% During Trading

An issue of Community Health Systems, Inc. (NYSE:CYH) debt fell 2.5% as a percentage of its face value during trading on Thursday. The high-yield issue of debt has a 7.125% coupon and is set to mature on July 15, 2020. The debt is now trading at $77.00 and was trading at $78.50 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.

CYH has been the topic of a number of recent research reports. ValuEngine lowered Community Health Systems from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 7th. Morgan Stanley decreased their price target on Community Health Systems from $6.50 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, November 3rd. Credit Suisse Group initiated coverage on Community Health Systems in a research note on Thursday, November 2nd. They issued an “underperform” rating and a $3.50 price target on the stock. Jefferies Group restated a “hold” rating and issued a $7.00 price target on shares of Community Health Systems in a research note on Tuesday, September 5th. Finally, Robert W. Baird restated a “hold” rating and issued a $7.00 price target on shares of Community Health Systems in a research note on Friday, September 1st. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $6.47.

Community Health Systems, Inc. (CYH) traded up $0.16 during trading on Thursday, hitting $4.21. The company had a trading volume of 2,513,317 shares, compared to its average volume of 3,580,882. The company has a current ratio of 2.05, a quick ratio of 1.86 and a debt-to-equity ratio of 10.62. Community Health Systems, Inc. has a 12-month low of $3.85 and a 12-month high of $10.51.

Community Health Systems (NYSE:CYH) last posted its earnings results on Wednesday, November 1st. The company reported ($0.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.47). The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. The firm’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. equities analysts anticipate that Community Health Systems, Inc. will post -1.25 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of CYH. Alps Advisors Inc. purchased a new stake in Community Health Systems during the second quarter worth $107,000. Shelton Capital Management purchased a new stake in Community Health Systems during the second quarter worth $110,000. FrontFour Capital Group LLC purchased a new stake in Community Health Systems during the third quarter worth $113,000. ARP Americas LLC purchased a new stake in Community Health Systems during the third quarter worth $121,000. Finally, Group One Trading L.P. boosted its position in Community Health Systems by 27.5% during the second quarter. Group One Trading L.P. now owns 14,765 shares of the company’s stock worth $147,000 after purchasing an additional 3,189 shares in the last quarter. Institutional investors own 94.74% of the company’s stock.

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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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