Zacks: Brokerages Expect Tenet Healthcare Corp (THC) Will Post Earnings of $0.30 Per Share

Brokerages expect that Tenet Healthcare Corp (NYSE:THC) will report earnings per share (EPS) of $0.30 for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Tenet Healthcare’s earnings, with the lowest EPS estimate coming in at $0.19 and the highest estimate coming in at $0.42. Tenet Healthcare reported earnings per share of $0.57 in the same quarter last year, which would suggest a negative year-over-year growth rate of 47.4%. The business is expected to report its next quarterly earnings results after the market closes on Monday, April 29th.

According to Zacks, analysts expect that Tenet Healthcare will report full year earnings of $2.24 per share for the current fiscal year, with EPS estimates ranging from $1.97 to $2.45. For the next year, analysts anticipate that the business will post earnings of $2.84 per share, with EPS estimates ranging from $1.91 to $3.27. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Monday, February 25th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.27. Tenet Healthcare had a return on equity of 30.43% and a net margin of 0.61%. The firm had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the prior year, the company earned $1.40 EPS. The firm’s revenue was down 7.2% compared to the same quarter last year.

Several research firms recently commented on THC. ValuEngine downgraded Tenet Healthcare from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Raymond James increased their price objective on Tenet Healthcare from $37.00 to $47.00 in a research note on Wednesday, February 27th. Zacks Investment Research downgraded Tenet Healthcare from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Stephens began coverage on Tenet Healthcare in a research note on Monday, January 14th. They issued an “equal weight” rating and a $23.00 price objective for the company. Finally, Deutsche Bank assumed coverage on Tenet Healthcare in a research note on Thursday, January 3rd. They issued a “hold” rating and a $20.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. Tenet Healthcare has an average rating of “Hold” and a consensus price target of $30.94.

NYSE THC traded down $0.09 during mid-day trading on Friday, hitting $24.25. The stock had a trading volume of 926,400 shares, compared to its average volume of 1,457,034. Tenet Healthcare has a twelve month low of $16.60 and a twelve month high of $39.74. The company has a debt-to-equity ratio of 21.32, a quick ratio of 1.12 and a current ratio of 1.20. The company has a market cap of $2.46 billion, a P/E ratio of 13.04, a P/E/G ratio of 0.47 and a beta of 1.83.

A number of large investors have recently modified their holdings of the business. Flinton Capital Management LLC grew its holdings in Tenet Healthcare by 3.6% in the 4th quarter. Flinton Capital Management LLC now owns 14,484 shares of the company’s stock valued at $248,000 after buying an additional 510 shares in the last quarter. Retirement Systems of Alabama grew its holdings in Tenet Healthcare by 0.6% in the 1st quarter. Retirement Systems of Alabama now owns 108,254 shares of the company’s stock valued at $3,122,000 after buying an additional 611 shares in the last quarter. Arizona State Retirement System grew its holdings in Tenet Healthcare by 1.2% in the 4th quarter. Arizona State Retirement System now owns 59,589 shares of the company’s stock valued at $1,021,000 after buying an additional 696 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Tenet Healthcare by 2.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 32,997 shares of the company’s stock worth $566,000 after purchasing an additional 741 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of Tenet Healthcare by 8.0% during the 4th quarter. Bank of Montreal Can now owns 11,719 shares of the company’s stock worth $200,000 after purchasing an additional 870 shares during the period.

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

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