Community Health Systems (NYSE:CYH) Updates FY 2024 Earnings Guidance

Community Health Systems (NYSE:CYH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of -0.650–0.050 for the period, compared to the consensus earnings per share estimate of -0.410. The company issued revenue guidance of $12.3 billion-$12.7 billion, compared to the consensus revenue estimate of $12.5 billion.

Wall Street Analysts Forecast Growth

CYH has been the topic of a number of recent research reports. Oppenheimer dropped their price target on Community Health Systems from $6.50 to $5.50 and set an outperform rating on the stock in a research report on Thursday, February 22nd. Barclays started coverage on shares of Community Health Systems in a research report on Wednesday, March 6th. They set an equal weight rating and a $3.00 target price for the company. Finally, StockNews.com raised shares of Community Health Systems from a sell rating to a hold rating in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $4.20.

Community Health Systems Price Performance

CYH traded up $0.07 during trading on Wednesday, hitting $3.03. 2,546,663 shares of the stock traded hands, compared to its average volume of 2,054,797. The firm has a market capitalization of $421.11 million, a P/E ratio of -2.94 and a beta of 1.52. Community Health Systems has a 12-month low of $2.01 and a 12-month high of $6.53. The firm has a 50-day moving average of $3.11 and a 200 day moving average of $3.05.

Community Health Systems (NYSE:CYH) last released its earnings results on Wednesday, February 21st. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.44). Community Health Systems had a negative net margin of 1.07% and a negative return on equity of 5.51%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the business earned $1.50 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts predict that Community Health Systems will post -0.45 EPS for the current fiscal year.

About Community Health Systems

Community Health Systems, Inc 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.