Tenet Healthcare (NYSE:THC) Issues Q4 2024 Earnings Guidance

Tenet Healthcare (NYSE:THC) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 2.690-3.310 for the period, compared to the consensus EPS estimate of 2.880. The company issued revenue guidance of $5.0 billion-$5.2 billion, compared to the consensus revenue estimate of $5.3 billion. Tenet Healthcare also updated its FY 2024 guidance to 11.120-11.730 EPS.

Wall Street Analysts Forecast Growth

THC has been the subject of a number of recent research reports. UBS Group boosted their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their price objective on Tenet Healthcare from $175.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group boosted their price objective on Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday. Finally, KeyCorp assumed coverage on shares of Tenet Healthcare in a report on Friday, October 11th. They set an “overweight” rating and a $200.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $163.65.

Tenet Healthcare Stock Up 1.0 %

Shares of NYSE:THC opened at $156.57 on Friday. The stock has a market cap of $14.89 billion, a price-to-earnings ratio of 4.97, a price-to-earnings-growth ratio of 0.72 and a beta of 2.14. The firm’s 50 day moving average price is $159.55 and its 200 day moving average price is $141.69. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. Tenet Healthcare has a fifty-two week low of $52.08 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the firm earned $1.44 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts predict that Tenet Healthcare will post 11.38 earnings per share for the current fiscal year.

Tenet Healthcare declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to buy up to 10.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the sale, the insider now owns 6,324 shares of the company’s stock, valued at approximately $1,024,867.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the transaction, the insider now directly owns 6,324 shares in the company, valued at approximately $1,024,867.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 2,000 shares of Tenet Healthcare stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the completion of the transaction, the director now owns 14,227 shares of the company’s stock, valued at $2,328,533.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,203 shares of company stock worth $19,754,997. 0.93% of the stock is owned by company insiders.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.