Analysts Expect Tenet Healthcare Co. (NYSE:THC) Will Post Quarterly Sales of $4.92 Billion

Wall Street brokerages forecast that Tenet Healthcare Co. (NYSE:THCGet Rating) will report $4.92 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Tenet Healthcare’s earnings. The highest sales estimate is $4.94 billion and the lowest is $4.91 billion. Tenet Healthcare reported sales of $4.95 billion in the same quarter last year, which would suggest a negative year over year growth rate of 0.6%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Tenet Healthcare will report full year sales of $19.81 billion for the current fiscal year, with estimates ranging from $19.78 billion to $19.86 billion. For the next financial year, analysts anticipate that the firm will post sales of $20.81 billion, with estimates ranging from $20.66 billion to $20.94 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Tenet Healthcare.

Tenet Healthcare (NYSE:THCGet Rating) last issued its earnings results on Wednesday, April 20th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.89. The business had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Tenet Healthcare had a return on equity of 51.84% and a net margin of 4.92%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS.

A number of research firms have weighed in on THC. Deutsche Bank Aktiengesellschaft upped their price target on Tenet Healthcare from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, April 22nd. Credit Suisse Group upped their target price on Tenet Healthcare from $109.00 to $111.00 and gave the company an “outperform” rating in a research report on Wednesday, February 9th. Jefferies Financial Group upped their target price on Tenet Healthcare from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, March 7th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Tenet Healthcare in a research report on Tuesday, March 1st. Finally, Raymond James raised Tenet Healthcare from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $105.00 to $120.00 in a research report on Thursday, January 20th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tenet Healthcare currently has an average rating of “Buy” and a consensus price target of $102.80.

In other news, Director Richard J. Mark sold 6,000 shares of the stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $90.47, for a total value of $542,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Ronald A. Rittenmeyer sold 59,851 shares of the stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $90.12, for a total value of $5,393,772.12. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in THC. Mackenzie Financial Corp boosted its stake in Tenet Healthcare by 7.4% during the third quarter. Mackenzie Financial Corp now owns 37,241 shares of the company’s stock valued at $2,474,000 after buying an additional 2,560 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in Tenet Healthcare by 37.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 84,200 shares of the company’s stock valued at $5,595,000 after buying an additional 22,835 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Tenet Healthcare by 1.2% during the fourth quarter. Retirement Systems of Alabama now owns 140,279 shares of the company’s stock valued at $11,459,000 after buying an additional 1,665 shares in the last quarter. Versor Investments LP bought a new position in Tenet Healthcare during the fourth quarter valued at about $294,000. Finally, Viking Global Investors LP boosted its stake in Tenet Healthcare by 47.2% during the third quarter. Viking Global Investors LP now owns 3,353,856 shares of the company’s stock valued at $222,830,000 after buying an additional 1,074,674 shares in the last quarter. 95.41% of the stock is owned by institutional investors.

NYSE THC opened at $73.53 on Wednesday. The stock has a market cap of $7.92 billion, a PE ratio of 8.36, a PEG ratio of 2.61 and a beta of 2.39. Tenet Healthcare has a fifty-two week low of $59.74 and a fifty-two week high of $92.65. The business has a 50 day moving average of $83.32. The company has a debt-to-equity ratio of 7.16, a quick ratio of 1.23 and a current ratio of 1.31.

Tenet Healthcare Company Profile (Get Rating)

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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