Tenet Healthcare Corp (THC) Receives Consensus Rating of “Hold” from Brokerages

Shares of Tenet Healthcare Corp (NYSE:THC) have earned a consensus recommendation of “Hold” from the sixteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $30.17.

Several analysts recently issued reports on the company. TheStreet downgraded Tenet Healthcare from a “c” rating to a “d+” rating in a report on Monday, May 13th. ValuEngine downgraded Tenet Healthcare from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. SunTrust Banks lowered their price target on Tenet Healthcare to $27.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. Barclays set a $24.00 price target on Tenet Healthcare and gave the company a “hold” rating in a report on Wednesday, April 17th. Finally, Raymond James increased their price target on Tenet Healthcare from $37.00 to $47.00 in a report on Wednesday, February 27th.

Shares of THC stock traded down $1.52 on Thursday, reaching $21.34. 1,931,270 shares of the stock were exchanged, compared to its average volume of 1,797,256. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 0.42 and a beta of 1.68. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 21.98. Tenet Healthcare has a 1-year low of $16.60 and a 1-year high of $39.74.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.25. Tenet Healthcare had a positive return on equity of 29.29% and a negative net margin of 0.04%. The firm had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the prior year, the firm earned $0.57 EPS. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, analysts expect that Tenet Healthcare will post 2.32 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of THC. Oregon Public Employees Retirement Fund boosted its position in Tenet Healthcare by 1,653.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 565,569 shares of the company’s stock valued at $33,000 after buying an additional 533,313 shares during the last quarter. Enlightenment Research LLC purchased a new position in Tenet Healthcare in the 4th quarter valued at about $36,000. PNC Financial Services Group Inc. boosted its position in Tenet Healthcare by 101.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the company’s stock valued at $38,000 after buying an additional 682 shares during the last quarter. Pearl River Capital LLC purchased a new position in Tenet Healthcare in the 4th quarter valued at about $41,000. Finally, Financial Gravity Wealth Inc. purchased a new position in Tenet Healthcare in the 1st quarter valued at about $51,000.

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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Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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