$3.83 Billion in Sales Expected for Tenet Healthcare Corp (NYSE:THC) This Quarter

Equities analysts predict that Tenet Healthcare Corp (NYSE:THC) will post sales of $3.83 billion for the current quarter, according to Zacks. Eight analysts have made estimates for Tenet Healthcare’s earnings. The lowest sales estimate is $3.62 billion and the highest is $4.20 billion. Tenet Healthcare reported sales of $4.56 billion in the same quarter last year, which indicates a negative year over year growth rate of 16%. The company is scheduled to announce its next quarterly earnings report after the market closes on Monday, August 3rd.

On average, analysts expect that Tenet Healthcare will report full year sales of $17.66 billion for the current year, with estimates ranging from $16.61 billion to $18.14 billion. For the next financial year, analysts forecast that the business will post sales of $19.30 billion, with estimates ranging from $18.45 billion to $20.62 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Monday, May 4th. The company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.96. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.63 billion. Tenet Healthcare had a negative net margin of 0.65% and a positive return on equity of 65.69%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 earnings per share.

Several research analysts recently weighed in on THC shares. Zacks Investment Research raised Tenet Healthcare from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a research report on Tuesday, May 5th. Mizuho decreased their price objective on shares of Tenet Healthcare from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, May 29th. Wells Fargo & Co reduced their target price on Tenet Healthcare from $40.00 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Credit Suisse Group restated a “buy” rating and set a $33.00 price objective on shares of Tenet Healthcare in a research note on Wednesday, May 6th. Finally, Deutsche Bank dropped their target price on shares of Tenet Healthcare from $31.00 to $25.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Tenet Healthcare presently has an average rating of “Hold” and a consensus price target of $27.42.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in Tenet Healthcare during the fourth quarter worth $50,769,000. Camber Capital Management LP raised its holdings in Tenet Healthcare by 40.0% in the 1st quarter. Camber Capital Management LP now owns 3,500,000 shares of the company’s stock valued at $50,400,000 after buying an additional 1,000,000 shares during the last quarter. Mudrick Capital Management L.P. acquired a new stake in Tenet Healthcare during the 1st quarter valued at approximately $8,973,000. Nut Tree Capital Management LP grew its position in shares of Tenet Healthcare by 50.0% during the 1st quarter. Nut Tree Capital Management LP now owns 1,650,000 shares of the company’s stock worth $23,760,000 after buying an additional 550,000 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of Tenet Healthcare by 87.5% during the 4th quarter. Nuveen Asset Management LLC now owns 1,096,080 shares of the company’s stock worth $41,684,000 after buying an additional 511,350 shares during the period. 99.46% of the stock is owned by hedge funds and other institutional investors.

THC stock traded down $0.39 during trading on Tuesday, hitting $26.44. The stock had a trading volume of 1,530,210 shares, compared to its average volume of 1,661,749. Tenet Healthcare has a 1-year low of $10.00 and a 1-year high of $39.37. The company’s 50 day moving average price is $20.55 and its two-hundred day moving average price is $23.36. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -22.41, a price-to-earnings-growth ratio of 15.60 and a beta of 2.33. The company has a debt-to-equity ratio of 29.98, a quick ratio of 1.24 and a current ratio of 1.32.

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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