Community Health Systems (NYSE:CYH) Releases FY 2024 Earnings Guidance

Community Health Systems (NYSE:CYH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -0.650–0.050 for the period, compared to the consensus estimate of -0.410. The company issued revenue guidance of $12.3 billion-$12.7 billion, compared to the consensus revenue estimate of $12.5 billion.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays began coverage on Community Health Systems in a research note on Wednesday, March 6th. They issued an equal weight rating and a $3.00 price target for the company. Oppenheimer decreased their price objective on Community Health Systems from $6.50 to $5.50 and set an outperform rating on the stock in a report on Thursday, February 22nd. Finally, StockNews.com raised Community Health Systems from a sell rating to a hold rating in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Community Health Systems presently has an average rating of Hold and a consensus target price of $4.20.

Community Health Systems Stock Performance

CYH stock traded up $0.07 during midday trading on Wednesday, reaching $3.03. The company’s stock had a trading volume of 2,546,663 shares, compared to its average volume of 2,054,797. The stock has a fifty day simple moving average of $3.09 and a two-hundred day simple moving average of $3.05. Community Health Systems has a 1 year low of $2.01 and a 1 year high of $6.53. The firm has a market capitalization of $421.11 million, a price-to-earnings ratio of -2.94 and a beta of 1.52.

Community Health Systems (NYSE:CYH) last released its earnings results on Wednesday, February 21st. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.44). Community Health Systems had a negative return on equity of 5.51% and a negative net margin of 1.07%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the business earned $1.50 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts forecast that Community Health Systems will post -0.45 EPS for the current fiscal year.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.