Community Health Systems (NYSE:CYH)‘s stock had its “hold” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research note issued on Thursday. They presently have a $6.00 target price on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 129.01% from the company’s previous close.
The analysts wrote, “We rate CYH Neutral, but it has been especially volatile recently due to restructuring and uncertainty about the related operating and financial costs. 12-month price target of $6 is based on a blend of DCF and comparable-company analysis.””
A number of other analysts have also recently weighed in on CYH. ValuEngine upgraded Community Health Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Robert W. Baird reiterated a “hold” rating and issued a $4.00 price target (down from $5.00) on shares of Community Health Systems in a research report on Friday, July 27th. Morgan Stanley lowered their price target on Community Health Systems from $4.00 to $3.75 and set an “underweight” rating on the stock in a research report on Friday, July 13th. Mizuho set a $4.00 price target on Community Health Systems and gave the company a “hold” rating in a research report on Friday, July 27th. Finally, SunTrust Banks reissued a “hold” rating and issued a $3.00 price objective on shares of Community Health Systems in a research note on Friday, July 20th. Nine investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Community Health Systems has a consensus rating of “Hold” and an average price target of $3.93.
Community Health Systems (NYSE:CYH) last announced its quarterly earnings results on Thursday, July 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.42. Community Health Systems had a negative return on equity of 36.38% and a negative net margin of 16.16%. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the prior year, the business posted ($0.25) earnings per share. The business’s revenue was down 14.0% compared to the same quarter last year. As a group, research analysts predict that Community Health Systems will post -1.49 EPS for the current fiscal year.
In other Community Health Systems news, insider Patton Paul Smith acquired 10,000 shares of Community Health Systems stock in a transaction on Monday, August 20th. The shares were bought at an average price of $3.51 per share, with a total value of $35,100.00. Following the completion of the purchase, the insider now owns 103,417 shares in the company, valued at $362,993.67. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders acquired 25,000 shares of company stock worth $83,350. Insiders own 3.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. LPL Financial LLC lifted its stake in shares of Community Health Systems by 46.8% during the first quarter. LPL Financial LLC now owns 111,612 shares of the company’s stock valued at $442,000 after acquiring an additional 35,579 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Community Health Systems by 43.9% during the second quarter. Canada Pension Plan Investment Board now owns 102,000 shares of the company’s stock valued at $339,000 after acquiring an additional 31,100 shares during the period. Paloma Partners Management Co lifted its stake in shares of Community Health Systems by 250.0% during the second quarter. Paloma Partners Management Co now owns 35,000 shares of the company’s stock valued at $116,000 after acquiring an additional 25,000 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Community Health Systems by 29.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 180,854 shares of the company’s stock valued at $600,000 after acquiring an additional 41,420 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Community Health Systems by 885.5% during the first quarter. Cubist Systematic Strategies LLC now owns 84,494 shares of the company’s stock valued at $335,000 after acquiring an additional 75,920 shares during the period. 97.55% of the stock is currently owned by institutional investors and hedge funds.
About Community Health Systems
Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.
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