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

Community Health Systems (NYSE:CYH) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of -0.450–0.300 for the period, compared to the consensus estimate of -0.310. The company issued revenue guidance of $12.5 billion-$12.7 billion, compared to the consensus revenue estimate of $12.5 billion.

Analyst Ratings Changes

CYH has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Community Health Systems from $3.75 to $4.25 and gave the company a hold rating in a report on Monday, July 15th. Oppenheimer dropped their price objective on shares of Community Health Systems from $5.50 to $4.50 and set an outperform rating on the stock in a research note on Thursday, April 25th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $4.15.

Community Health Systems Price Performance

Shares of CYH traded up $0.28 during trading hours on Wednesday, hitting $4.33. The stock had a trading volume of 4,890,170 shares, compared to its average volume of 1,870,140. The stock has a fifty day moving average price of $3.59 and a 200 day moving average price of $3.42. The firm has a market capitalization of $601.72 million, a PE ratio of -4.56 and a beta of 1.52. Community Health Systems has a 12 month low of $2.01 and a 12 month high of $5.20.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings results on Wednesday, April 24th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.09 billion. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.43) earnings per share. As a group, analysts anticipate that Community Health Systems will post -0.32 EPS for the current fiscal year.

Community Health Systems Company Profile

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.