Equities Analysts Set Expectations for Tenet Healthcare Corp’s FY2019 Earnings (NYSE:THC)

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Tenet Healthcare Corp (NYSE:THC) – Equities researchers at Piper Jaffray Companies raised their FY2019 earnings estimates for shares of Tenet Healthcare in a note issued to investors on Tuesday, November 5th. Piper Jaffray Companies analyst S. James now anticipates that the company will post earnings of $2.48 per share for the year, up from their prior estimate of $2.46. Piper Jaffray Companies also issued estimates for Tenet Healthcare’s Q4 2019 earnings at $0.80 EPS, Q1 2020 earnings at $0.53 EPS, Q2 2020 earnings at $0.78 EPS, Q3 2020 earnings at $0.56 EPS, Q4 2020 earnings at $1.22 EPS, FY2020 earnings at $3.09 EPS, Q1 2021 earnings at $0.54 EPS, Q2 2021 earnings at $0.78 EPS, Q3 2021 earnings at $0.57 EPS and FY2021 earnings at $3.28 EPS.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Monday, November 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.30. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.46 billion. Tenet Healthcare had a positive return on equity of 35.68% and a negative net margin of 1.31%. Tenet Healthcare’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share.

Several other brokerages have also issued reports on THC. Robert W. Baird upped their target price on Tenet Healthcare from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday. Mizuho reaffirmed a “buy” rating on shares of Tenet Healthcare in a research note on Thursday. Goldman Sachs Group initiated coverage on Tenet Healthcare in a research note on Wednesday, August 14th. They issued a “neutral” rating and a $28.00 target price for the company. ValuEngine lowered Tenet Healthcare from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Finally, Credit Suisse Group raised Tenet Healthcare from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $25.00 to $36.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Tenet Healthcare currently has an average rating of “Hold” and a consensus price target of $29.64.

Shares of THC opened at $29.70 on Friday. The firm has a market cap of $2.91 billion, a P/E ratio of 15.97, a P/E/G ratio of 0.74 and a beta of 1.66. The stock has a 50 day simple moving average of $23.99 and a two-hundred day simple moving average of $21.88. The company has a debt-to-equity ratio of 30.38, a current ratio of 1.22 and a quick ratio of 1.06. Tenet Healthcare has a 1 year low of $16.60 and a 1 year high of $31.64.

In other news, Director Edward A. Kangas sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $20.28, for a total transaction of $912,600.00. Following the completion of the sale, the director now owns 47,138 shares of the company’s stock, valued at $955,958.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Glenview Capital Management, L acquired 613,781 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $20.12 per share, with a total value of $12,349,273.72. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,098,419 shares of company stock valued at $22,395,899. Insiders own 1.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in THC. FMR LLC boosted its stake in shares of Tenet Healthcare by 13.7% during the first quarter. FMR LLC now owns 1,785,117 shares of the company’s stock valued at $51,483,000 after purchasing an additional 215,600 shares during the period. Investors Research Corp raised its holdings in shares of Tenet Healthcare by 4.0% during the second quarter. Investors Research Corp now owns 31,475 shares of the company’s stock valued at $650,000 after acquiring an additional 1,200 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of Tenet Healthcare during the second quarter valued at approximately $1,973,000. First Hawaiian Bank raised its holdings in shares of Tenet Healthcare by 54.9% during the second quarter. First Hawaiian Bank now owns 17,120 shares of the company’s stock valued at $354,000 after acquiring an additional 6,070 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Tenet Healthcare during the second quarter valued at approximately $303,000. 99.16% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Company Profile

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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