Analysts Offer Predictions for Tenet Healthcare Corp’s Q1 2018 Earnings (THC)

Tenet Healthcare Corp (NYSE:THC) – Stock analysts at Leerink Swann issued their Q1 2018 EPS estimates for Tenet Healthcare in a report released on Wednesday. Leerink Swann analyst A. Gupte forecasts that the company will post earnings per share of $0.47 for the quarter. Leerink Swann has a “Buy” rating and a $27.00 price objective on the stock.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.94 billion. During the same period in the previous year, the business earned $0.16 EPS. Tenet Healthcare’s revenue was down 5.4% compared to the same quarter last year.

THC has been the subject of a number of other reports. Zacks Investment Research lowered shares of Tenet Healthcare from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 19th. Robert W. Baird restated a “buy” rating and set a $23.00 price target on shares of Tenet Healthcare in a research report on Thursday, September 28th. Citigroup restated a “hold” rating and set a $16.00 price target on shares of Tenet Healthcare in a research report on Thursday, September 14th. J P Morgan Chase & Co lowered shares of Tenet Healthcare from a “neutral” rating to an “underweight” rating and set a $15.00 price target for the company. in a research report on Thursday, December 14th. Finally, Deutsche Bank restated a “buy” rating and set a $24.00 price target on shares of Tenet Healthcare in a research report on Friday, September 1st. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $18.93.

Tenet Healthcare (NYSE:THC) opened at $15.13 on Friday. The firm has a market cap of $1,475.70, a P/E ratio of -2.75, a P/E/G ratio of 3.54 and a beta of 1.17. The company has a quick ratio of 1.21, a current ratio of 1.28 and a debt-to-equity ratio of 21.21. Tenet Healthcare has a one year low of $12.25 and a one year high of $22.72.

A number of large investors have recently made changes to their positions in the stock. Retirement Systems of Alabama lifted its stake in Tenet Healthcare by 0.6% in the second quarter. Retirement Systems of Alabama now owns 103,679 shares of the company’s stock worth $2,005,000 after purchasing an additional 591 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Tenet Healthcare by 13.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 451,626 shares of the company’s stock worth $8,735,000 after purchasing an additional 54,494 shares during the last quarter. Arizona State Retirement System lifted its stake in Tenet Healthcare by 2.1% in the second quarter. Arizona State Retirement System now owns 33,900 shares of the company’s stock worth $656,000 after purchasing an additional 700 shares during the last quarter. First Trust Advisors LP lifted its stake in Tenet Healthcare by 49.1% in the second quarter. First Trust Advisors LP now owns 269,061 shares of the company’s stock worth $5,204,000 after purchasing an additional 88,663 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Tenet Healthcare by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 1,113,140 shares of the company’s stock worth $21,528,000 after purchasing an additional 71,465 shares during the last quarter.

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Tenet Healthcare Company Profile

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 (NYSE:THC)

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