SunTrust Banks Weighs in on Tenet Healthcare Corp’s FY2019 Earnings (THC)

Tenet Healthcare Corp (NYSE:THC) – SunTrust Banks increased their FY2019 EPS estimates for shares of Tenet Healthcare in a research note issued on Tuesday, April 30th, according to Zacks Investment Research. SunTrust Banks analyst D. Macdonald now expects that the company will earn $2.63 per share for the year, up from their prior estimate of $2.42. SunTrust Banks has a “Hold” rating and a $27.00 price objective on the stock. SunTrust Banks also issued estimates for Tenet Healthcare’s FY2020 earnings at $3.37 EPS.

Several other research analysts have also commented on the stock. TheStreet lowered shares of Tenet Healthcare from a “c” rating to a “d+” rating in a report on Monday, May 13th. ValuEngine lowered shares of Tenet Healthcare from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Barclays set a $24.00 price target on shares of Tenet Healthcare and gave the company a “hold” rating in a report on Wednesday, April 17th. Raymond James lifted their price target on shares of Tenet Healthcare from $37.00 to $47.00 in a report on Wednesday, February 27th. Finally, Citigroup lifted their price target on shares of Tenet Healthcare from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Tenet Healthcare has a consensus rating of “Hold” and a consensus target price of $30.07.

NYSE THC opened at $20.84 on Thursday. Tenet Healthcare has a one year low of $16.60 and a one year high of $39.74. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 21.98. The stock has a market capitalization of $2.13 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 0.39 and a beta of 1.68.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.25. Tenet Healthcare had a negative net margin of 0.04% and a positive return on equity of 29.29%. The company had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same period last year, the business earned $0.57 EPS. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year.

A number of large investors have recently modified their holdings of THC. Norges Bank bought a new stake in Tenet Healthcare in the 4th quarter valued at about $23,500,000. Vanguard Group Inc raised its position in shares of Tenet Healthcare by 9.4% during the 3rd quarter. Vanguard Group Inc now owns 11,496,136 shares of the company’s stock worth $327,180,000 after buying an additional 990,373 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Tenet Healthcare by 9.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,496,136 shares of the company’s stock worth $327,180,000 after buying an additional 990,373 shares in the last quarter. FMR LLC raised its position in shares of Tenet Healthcare by 64.3% during the 4th quarter. FMR LLC now owns 1,569,517 shares of the company’s stock worth $26,902,000 after buying an additional 614,397 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter worth about $9,646,000.

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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