Tenet Healthcare Corp (NYSE:THC) – Equities research analysts at William Blair upped their Q1 2018 EPS estimates for Tenet Healthcare in a research note issued on Monday. William Blair analyst M. Larew now anticipates that the company will earn $0.03 per share for the quarter, up from their prior forecast of ($0.18). William Blair has a “Market Perform” rating on the stock. William Blair also issued estimates for Tenet Healthcare’s Q2 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.72 EPS, Q2 2019 earnings at $0.24 EPS and FY2019 earnings at $1.65 EPS.
Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Monday, February 26th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.15. Tenet Healthcare had a negative net margin of 3.67% and a positive return on equity of 9.69%. The company had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the business posted $0.06 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis.
A number of other brokerages have also weighed in on THC. JPMorgan Chase & Co. lowered shares of Tenet Healthcare from a “neutral” rating to an “underweight” rating and set a $15.00 price objective for the company. in a report on Thursday, December 14th. Wells Fargo & Co started coverage on shares of Tenet Healthcare in a research report on Tuesday, January 30th. They set a “market perform” rating and a $20.00 target price on the stock. Royal Bank of Canada cut their target price on shares of Tenet Healthcare from $19.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Monday, November 13th. Leerink Swann reissued a “buy” rating and set a $27.00 target price on shares of Tenet Healthcare in a research report on Wednesday, December 20th. Finally, Zacks Investment Research raised shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Tenet Healthcare currently has an average rating of “Hold” and a consensus target price of $20.56.
Shares of Tenet Healthcare (NYSE THC) opened at $22.64 on Wednesday. Tenet Healthcare has a twelve month low of $12.25 and a twelve month high of $22.67. The firm has a market cap of $2,158.66, a PE ratio of 27.02, a P/E/G ratio of 1.41 and a beta of 1.07. The company has a current ratio of 1.29, a quick ratio of 1.22 and a debt-to-equity ratio of 27.44.
Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Tenet Healthcare by 18.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,530,802 shares of the company’s stock worth $41,579,000 after buying an additional 389,144 shares during the last quarter. Letko Brosseau & Associates Inc. purchased a new position in shares of Tenet Healthcare in the 4th quarter worth approximately $30,300,000. Davidson Kempner Capital Management LP grew its position in shares of Tenet Healthcare by 84.9% in the 3rd quarter. Davidson Kempner Capital Management LP now owns 1,924,600 shares of the company’s stock worth $31,621,000 after buying an additional 883,600 shares during the last quarter. King Street Capital Management L.P. purchased a new position in shares of Tenet Healthcare in the 3rd quarter worth approximately $31,217,000. Finally, Brigade Capital Management LP grew its position in shares of Tenet Healthcare by 16.5% in the 4th quarter. Brigade Capital Management LP now owns 1,573,200 shares of the company’s stock worth $23,850,000 after buying an additional 223,200 shares during the last quarter.
In other news, Director George Fredrick Smitherman acquired 125,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were purchased at an average price of $38.50 per share, with a total value of $4,812,500.00. In the last ninety days, insiders sold 54,600 shares of company stock worth $94,146. Insiders own 3.10% of the company’s stock.
Tenet Healthcare Company Profile
Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.