Tenet Healthcare (NYSE:THC) Issues Q3 Earnings Guidance

Tenet Healthcare (NYSE:THC) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.23-0.48 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.29. The company issued revenue guidance of $4.3-4.6 billion, compared to the consensus revenue estimate of $4.43 billion.Tenet Healthcare also updated its FY 2019 guidance to $2.08-2.59 EPS.

THC traded down $0.55 on Wednesday, reaching $20.96. 56,615 shares of the company’s stock were exchanged, compared to its average volume of 1,970,820. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 21.98. The business has a fifty day moving average price of $20.27. Tenet Healthcare has a twelve month low of $16.60 and a twelve month high of $37.00. The firm has a market capitalization of $2.22 billion, a PE ratio of 11.31, a PEG ratio of 0.62 and a beta of 1.65.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, August 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.12. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.48 billion. Tenet Healthcare had a negative net margin of 0.04% and a positive return on equity of 29.29%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. Analysts expect that Tenet Healthcare will post 2.33 EPS for the current year.

A number of brokerages recently weighed in on THC. ValuEngine cut shares of Tenet Healthcare from a sell rating to a strong sell rating in a report on Wednesday, May 1st. SunTrust Banks dropped their price objective on shares of Tenet Healthcare to $27.00 and set a hold rating for the company in a report on Wednesday, May 1st. TheStreet cut shares of Tenet Healthcare from a c rating to a d+ rating in a report on Monday, May 13th. Finally, Barclays set a $24.00 price objective on shares of Tenet Healthcare and gave the company a hold rating in a report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Tenet Healthcare has a consensus rating of Hold and a consensus price target of $29.46.

In other news, major shareholder Glenview Capital Management, L purchased 27,424 shares of the stock in a transaction on Friday, July 26th. The stock was bought at an average price of $20.99 per share, for a total transaction of $575,629.76. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

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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