$3.15 Billion in Sales Expected for Community Health Systems (NYSE:CYH) This Quarter

Equities research analysts expect that Community Health Systems (NYSE:CYH) will announce sales of $3.15 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Community Health Systems’ earnings, with the lowest sales estimate coming in at $3.07 billion and the highest estimate coming in at $3.18 billion. Community Health Systems posted sales of $3.45 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 8.7%. The firm is scheduled to report its next earnings results on Monday, November 4th.

According to Zacks, analysts expect that Community Health Systems will report full-year sales of $12.97 billion for the current financial year, with estimates ranging from $12.81 billion to $13.06 billion. For the next fiscal year, analysts expect that the firm will post sales of $13.02 billion, with estimates ranging from $12.60 billion to $13.40 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Community Health Systems.

Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.47) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.05. The company had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.20 billion. The firm’s revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) EPS.

A number of equities analysts have weighed in on the company. ValuEngine upgraded Community Health Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Barclays set a $3.00 price target on Community Health Systems and gave the stock a “sell” rating in a report on Wednesday, April 17th. Finally, Zacks Investment Research cut Community Health Systems from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $3.55.

NYSE CYH traded up $0.20 on Friday, reaching $2.11. The company had a trading volume of 269,277 shares, compared to its average volume of 2,363,159. The firm has a market capitalization of $239.66 million, a price-to-earnings ratio of -1.09 and a beta of 2.43. Community Health Systems has a 1 year low of $1.81 and a 1 year high of $5.35. The firm’s 50-day moving average is $2.41.

In other Community Health Systems news, Director James S. Ely III bought 50,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were bought at an average cost of $3.15 per share, with a total value of $157,500.00. Following the transaction, the director now directly owns 136,320 shares in the company, valued at approximately $429,408. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders acquired 104,000 shares of company stock worth $332,680. 4.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Community Health Systems during the 1st quarter valued at approximately $55,000. FNY Investment Advisers LLC acquired a new stake in shares of Community Health Systems during the 2nd quarter valued at approximately $61,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Community Health Systems during the 4th quarter valued at approximately $75,000. Metropolitan Life Insurance Co. NY raised its position in shares of Community Health Systems by 351.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 33,022 shares of the company’s stock valued at $93,000 after acquiring an additional 25,710 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Community Health Systems during the 4th quarter valued at approximately $95,000. 98.72% of the stock is currently owned by institutional investors.

Community Health Systems Company Profile

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 and Estimates for Community Health Systems (NYSE:CYH)

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