Today: FY2016 EPS Estimates for Tenet Healthcare Corp. Decreased by Analyst (THC)

Today: FY2016 EPS Estimates for Tenet Healthcare Corp. Decreased by Analyst (THC)

Tenet Healthcare Corp. (NYSE:THC) – Stock analysts at Leerink Swann lowered their FY2016 earnings per share estimates for shares of Tenet Healthcare Corp. in a report issued on Wednesday. Leerink Swann analyst A. Gupte now expects that the brokerage will earn $1.21 per share for the year, down from their previous forecast of $1.60. Leerink Swann currently has a “Market Perform” rating and a $28.00 price target on the stock. Leerink Swann also issued estimates for Tenet Healthcare Corp.’s Q4 2016 earnings at $0.21 EPS, FY2017 earnings at $2.03 EPS and FY2019 earnings at $2.57 EPS.

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

A number of other analysts have also issued reports on THC. Zacks Investment Research upgraded Tenet Healthcare Corp. from a “strong sell” rating to a “hold” rating in a research note on Friday, September 2nd. Morgan Stanley reiterated a “hold” rating and set a $38.00 price objective on shares of Tenet Healthcare Corp. in a research note on Tuesday, August 2nd. Citigroup Inc. decreased their price objective on Tenet Healthcare Corp. from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, August 4th. Raymond James Financial Inc. lowered Tenet Healthcare Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 10th. Finally, Mizuho reiterated a “neutral” rating and set a $28.00 price objective (down from $33.00) on shares of Tenet Healthcare Corp. in a research note on Tuesday, August 2nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. Tenet Healthcare Corp. has an average rating of “Hold” and an average price target of $30.69.

Shares of Tenet Healthcare Corp. (NYSE:THC) opened at 16.22 on Monday. The company’s market capitalization is $1.62 billion. The stock has a 50 day moving average price of $19.53 and a 200-day moving average price of $24.94. Tenet Healthcare Corp. has a 52 week low of $14.06 and a 52 week high of $35.35.

Several institutional investors have recently made changes to their positions in the stock. Harris Associates L P raised its position in shares of Tenet Healthcare Corp. by 0.9% in the third quarter. Harris Associates L P now owns 8,411,922 shares of the company’s stock valued at $190,615,000 after buying an additional 78,129 shares during the period. BlackRock Advisors LLC boosted its stake 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 valued at $103,504,000 after buying an additional 2,114,791 shares in the last quarter. BlackRock Fund Advisors boosted its stake 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 valued at $99,823,000 after buying an additional 1,753,061 shares in the last quarter. BlackRock Group LTD boosted its stake 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 valued at $42,533,000 after buying an additional 784,764 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Tenet Healthcare Corp. by 49.2% in the second quarter. Bank of New York Mellon Corp now owns 1,296,517 shares of the company’s stock valued at $35,837,000 after buying an additional 427,803 shares in the last quarter.

In other news, Director Ronald A. Rittenmeyer acquired 15,000 shares of Tenet Healthcare Corp. stock in a transaction dated Friday, November 11th. The shares were purchased at an average cost of $14.35 per share, for a total transaction of $215,250.00. Following the transaction, the director now owns 23,783 shares of the company’s stock, valued at $341,286.05. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter M. Wilver acquired 5,000 shares of Tenet Healthcare Corp. stock in a transaction dated Wednesday, November 9th. The shares were purchased 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 directly owns 5,000 shares in the company, valued at approximately $75,950. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.

About Tenet Healthcare Corp.

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