Wall Street brokerages expect Tenet Healthcare Corp (NYSE:THC) to post $4.48 billion in sales for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Tenet Healthcare’s earnings, with estimates ranging from $4.41 billion to $4.57 billion. Tenet Healthcare reported sales of $4.51 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 0.7%. The company is scheduled to announce its next earnings report after the market closes on Monday, August 5th.
According to Zacks, analysts expect that Tenet Healthcare will report full-year sales of $18.21 billion for the current year, with estimates ranging from $18.04 billion to $18.36 billion. For the next financial year, analysts forecast that the business will post sales of $18.68 billion, with estimates ranging from $17.65 billion to $19.28 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Tenet Healthcare.
Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, April 29th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.25. Tenet Healthcare had a negative net margin of 0.04% and a positive return on equity of 29.29%. The business had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same period last year, the business earned $0.57 EPS. The company’s revenue was down 3.3% compared to the same quarter last year.
Shares of NYSE:THC traded up $0.35 during trading on Friday, reaching $19.48. The stock had a trading volume of 1,171,385 shares, compared to its average volume of 1,506,048. Tenet Healthcare has a one year low of $16.60 and a one year high of $39.74. The firm has a market cap of $1.96 billion, a P/E ratio of 10.47, a P/E/G ratio of 0.35 and a beta of 1.59. The company has a debt-to-equity ratio of 21.98, a current ratio of 1.23 and a quick ratio of 1.15. The stock has a 50-day moving average of $20.56.
A number of hedge funds and other institutional investors have recently made changes to their positions in THC. Retirement Systems of Alabama increased its holdings in shares of Tenet Healthcare by 0.6% during the 1st quarter. Retirement Systems of Alabama now owns 108,254 shares of the company’s stock valued at $3,122,000 after purchasing an additional 611 shares in the last quarter. Flinton Capital Management LLC increased its holdings in shares of Tenet Healthcare by 3.6% during the 4th quarter. Flinton Capital Management LLC now owns 14,484 shares of the company’s stock valued at $248,000 after purchasing an additional 510 shares in the last quarter. GWM Advisors LLC increased its holdings in Tenet Healthcare by 170.4% in the 1st quarter. GWM Advisors LLC now owns 31,789 shares of the company’s stock worth $51,000 after acquiring an additional 20,034 shares in the last quarter. LMR Partners LLP purchased a new stake in Tenet Healthcare in the 4th quarter worth $209,000. Finally, Metropolitan Life Insurance Co. NY increased its holdings in Tenet Healthcare by 79.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 49,285 shares of the company’s stock worth $845,000 after acquiring an additional 21,855 shares in the last quarter. Institutional investors and hedge funds own 99.16% of the company’s stock.
About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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