Today: Today, Analysts Set Expectations for Tenet Healthcare Corp.’s FY2018 Earnings (THC)

Today, Analysts Set Expectations for Tenet Healthcare Corp.’s FY2018 Earnings (THC)

Tenet Healthcare Corp. (NYSE:THC) – Analysts at Leerink Swann cut their FY2018 EPS estimates for shares of Tenet Healthcare Corp. in a research report issued on Wednesday. Leerink Swann analyst A. Gupte now forecasts that the brokerage will post earnings per share of $2.49 for the year, down from their previous forecast of $2.77. Leerink Swann has a “Market Perform” rating and a $28.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised Tenet Healthcare Corp. from a “strong sell” rating to a “hold” rating in a research report on Friday, September 2nd. Morgan Stanley reissued a “hold” rating and set a $38.00 price objective on shares of Tenet Healthcare Corp. in a research report on Tuesday, August 2nd. Citigroup Inc. cut their price objective on Tenet Healthcare Corp. from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, August 4th. Raymond James Financial Inc. cut Tenet Healthcare Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 10th. Finally, Mizuho reissued a “neutral” rating and set a $28.00 price objective (down previously from $33.00) on shares of Tenet Healthcare Corp. in a research report on Tuesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. Tenet Healthcare Corp. currently has an average rating of “Hold” and a consensus target price of $30.69.

Tenet Healthcare Corp. (NYSE:THC) traded down 0.25% on Friday, reaching $16.22. The company had a trading volume of 648,722 shares. Tenet Healthcare Corp. has a one year low of $14.06 and a one year high of $35.35. The stock’s market cap is $1.62 billion. The company has a 50-day moving average of $19.73 and a 200 day moving average of $25.05.

Tenet Healthcare Corp. (NYSE:THC) last released its quarterly earnings data on Monday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.01. Tenet Healthcare Corp. had a negative net margin of 1.04% and a positive return on equity of 12.75%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Advisors LLC raised its position in shares of Tenet Healthcare Corp. by 86.2% in the third quarter. BlackRock Advisors LLC now owns 4,567,713 shares of the company’s stock worth $103,504,000 after buying an additional 2,114,791 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Tenet Healthcare Corp. by 94.3% in the second quarter. BlackRock Fund Advisors now owns 3,611,528 shares of the company’s stock worth $99,823,000 after buying an additional 1,753,061 shares during the last quarter. BlackRock Group LTD raised its position in shares of Tenet Healthcare Corp. by 71.8% in the third quarter. BlackRock Group LTD now owns 1,877,045 shares of the company’s stock worth $42,533,000 after buying an additional 784,764 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of Tenet Healthcare Corp. by 164.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 824,233 shares of the company’s stock worth $22,781,000 after buying an additional 512,212 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Tenet Healthcare Corp. by 75.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,164,036 shares of the company’s stock worth $32,174,000 after buying an additional 501,551 shares during the last quarter.

In other Tenet Healthcare Corp. news, Director Ronald A. Rittenmeyer purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were acquired at an average cost of $14.35 per share, for a total transaction of $215,250.00. Following the transaction, the director now directly owns 23,783 shares in the company, valued at $341,286.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter M. Wilver purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were acquired at an average price of $15.19 per share, for a total transaction of $75,950.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $75,950. The disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company’s stock.

About Tenet Healthcare Corp.

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