Tenet Healthcare (THC) Set to Announce Quarterly Earnings on Tuesday

Tenet Healthcare (NYSE:THC) will be posting its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Tenet Healthcare to post earnings of $1.41 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Thursday, February 8th. The company reported $2.68 EPS for the quarter, topping the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The business had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the business posted $1.96 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts expect Tenet Healthcare to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Tenet Healthcare Price Performance

THC opened at $94.85 on Tuesday. The firm has a market cap of $9.41 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 2.99 and a beta of 2.08. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77. The stock’s 50-day moving average price is $97.56 and its 200 day moving average price is $79.67. Tenet Healthcare has a 12-month low of $51.04 and a 12-month high of $107.80.

Analysts Set New Price Targets

THC has been the subject of several recent research reports. Wolfe Research raised shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target for the company in a research report on Wednesday, March 27th. TheStreet upgraded shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft increased their target price on Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a report on Friday, April 12th. Wells Fargo & Company upped their price objective on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $104.00 price objective on shares of Tenet Healthcare in a report on Wednesday, April 10th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $100.38.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the sale, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the transaction, the executive vice president now directly owns 29,803 shares in the company, valued at $2,889,698.88. The disclosure for this sale can be found here. Insiders sold a total of 51,268 shares of company stock valued at $4,944,810 in the last ninety days. Insiders own 1.30% of the company’s stock.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.