Community Health Systems (NYSE:CYH) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Community Health Systems (NYSE:CYH) announced its earnings results on Monday. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.05, Bloomberg Earnings reports. The company had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter last year, the business earned ($0.01) EPS. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. Community Health Systems updated its FY 2019 guidance to $-2–1.65 EPS and its FY19 guidance to $(2.00)-(1.65) EPS.

Shares of NYSE CYH traded down $0.03 during trading on Monday, hitting $1.91. The company had a trading volume of 2,727,699 shares, compared to its average volume of 2,113,120. The firm’s fifty day simple moving average is $2.41. Community Health Systems has a fifty-two week low of $1.81 and a fifty-two week high of $5.35. The firm has a market capitalization of $220.77 million, a price-to-earnings ratio of -0.98 and a beta of 2.43.

Several analysts have recently issued reports on the stock. ValuEngine upgraded shares of Community Health Systems from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research lowered shares of Community Health Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, Barclays set a $3.00 target price on shares of Community Health Systems and gave the company a “sell” rating in a research report on Wednesday, April 17th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $3.55.

In other Community Health Systems news, CEO Wayne T. Smith purchased 993,449 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were purchased at an average cost of $3.37 per share, for a total transaction of $3,347,923.13. Following the completion of the transaction, the chief executive officer now owns 1,959,566 shares of the company’s stock, valued at approximately $6,603,737.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James S. Ely III purchased 50,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average price of $3.15 per share, for a total transaction of $157,500.00. Following the completion of the transaction, the director now directly owns 136,320 shares of the company’s stock, valued at approximately $429,408. The disclosure for this purchase can be found here. In the last quarter, insiders bought 1,097,449 shares of company stock worth $3,680,603. Company insiders own 4.50% of the company’s stock.

About Community Health Systems

Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company 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.

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Earnings History for Community Health Systems (NYSE:CYH)

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