Tenet Healthcare Corp (NYSE:THC) Forecasted to Earn FY2021 Earnings of $3.44 Per Share

Tenet Healthcare Corp (NYSE:THC) – Stock analysts at SunTrust Banks issued their FY2021 EPS estimates for shares of Tenet Healthcare in a research note issued to investors on Monday, January 13th. SunTrust Banks analyst D. Macdonald anticipates that the company will earn $3.44 per share for the year. SunTrust Banks currently has a “Hold” rating and a $42.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Deutsche Bank initiated coverage on shares of Tenet Healthcare in a report on Friday, January 3rd. They issued a “hold” rating and a $20.00 price objective for the company. Zacks Investment Research lowered shares of Tenet Healthcare from a “buy” rating to a “hold” rating and set a $37.00 target price for the company. in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their target price on shares of Tenet Healthcare from $23.00 to $31.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. Credit Suisse Group raised shares of Tenet Healthcare from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $25.00 to $36.00 in a research report on Wednesday, November 6th. Finally, UBS Group raised shares of Tenet Healthcare from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $24.00 to $53.00 in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.15.

Shares of NYSE:THC opened at $36.59 on Wednesday. The stock has a market capitalization of $3.76 billion, a PE ratio of 19.67, a P/E/G ratio of 0.69 and a beta of 1.84. Tenet Healthcare has a 1 year low of $17.18 and a 1 year high of $39.37. The firm has a fifty day moving average price of $36.50 and a 200 day moving average price of $26.38. The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 30.38.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.30. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Tenet Healthcare had a negative net margin of 1.31% and a positive return on equity of 35.68%. Tenet Healthcare’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wakefield Asset Management LLLP raised its position in shares of Tenet Healthcare by 2.3% during the third quarter. Wakefield Asset Management LLLP now owns 18,191 shares of the company’s stock valued at $402,000 after buying an additional 411 shares during the last quarter. Rehmann Capital Advisory Group raised its position in shares of Tenet Healthcare by 62.4% during the second quarter. Rehmann Capital Advisory Group now owns 1,601 shares of the company’s stock valued at $33,000 after buying an additional 615 shares during the last quarter. Financial Architects Inc raised its position in shares of Tenet Healthcare by 41.6% during the third quarter. Financial Architects Inc now owns 2,775 shares of the company’s stock valued at $61,000 after buying an additional 815 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Tenet Healthcare by 52.7% during the third quarter. LS Investment Advisors LLC now owns 2,552 shares of the company’s stock valued at $56,000 after buying an additional 881 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Tenet Healthcare by 152.6% during the third quarter. Quadrant Capital Group LLC now owns 1,546 shares of the company’s stock valued at $33,000 after buying an additional 934 shares during the last quarter.

In other news, EVP Audrey T. Andrews sold 65,360 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $30.59, for a total transaction of $1,999,362.40. Following the completion of the transaction, the executive vice president now owns 56,602 shares of the company’s stock, valued at $1,731,455.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.

Tenet Healthcare Company Profile

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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Earnings History and Estimates for Tenet Healthcare (NYSE:THC)

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