FY2017 EPS Estimates for Tenet Healthcare Corporation (THC) Cut by Jefferies Group

Tenet Healthcare Corporation (NYSE:THC) – Equities researchers at Jefferies Group reduced their FY2017 earnings estimates for shares of Tenet Healthcare Corporation in a research report issued on Monday. Jefferies Group analyst B. Tanquilut now expects that the company will post earnings per share of $0.65 for the year, down from their previous estimate of $0.78. Jefferies Group currently has a “Buy” rating and a $20.00 target price on the stock. Jefferies Group also issued estimates for Tenet Healthcare Corporation’s Q4 2017 earnings at $1.25 EPS, Q2 2018 earnings at $0.26 EPS and Q4 2018 earnings at $0.22 EPS.

A number of other research analysts have also recently commented on the stock. Deutsche Bank AG restated a “buy” rating and issued a $24.00 price target on shares of Tenet Healthcare Corporation in a report on Friday, September 1st. Robert W. Baird restated a “buy” rating and issued a $23.00 price target on shares of Tenet Healthcare Corporation in a report on Thursday, August 24th. Leerink Swann restated an “outperform” rating and issued a $30.00 price target (up from $23.00) on shares of Tenet Healthcare Corporation in a report on Sunday, August 20th. Zacks Investment Research cut shares of Tenet Healthcare Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 19th. Finally, Mizuho restated a “neutral” rating and issued a $14.00 price target on shares of Tenet Healthcare Corporation in a report on Thursday, September 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $19.00.

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Tenet Healthcare Corporation (NYSE THC) opened at $13.23 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.21 and a debt-to-equity ratio of 21.21. Tenet Healthcare Corporation has a 1-year low of $12.25 and a 1-year high of $22.72.

Tenet Healthcare Corporation (NYSE:THC) last posted its quarterly earnings results on Monday, November 6th. The company reported ($0.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.23. The firm had revenue of $4.59 billion for the quarter, compared to analysts’ expectations of $4.94 billion. Tenet Healthcare Corporation had a negative net margin of 2.85% and a negative return on equity of 5.61%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share.

Hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in shares of Tenet Healthcare Corporation by 52.1% during the first quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock valued at $117,000 after buying an additional 2,266 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Tenet Healthcare Corporation by 57.4% during the first quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock valued at $126,000 after buying an additional 2,590 shares during the last quarter. Riverhead Capital Management LLC lifted its position in shares of Tenet Healthcare Corporation by 67.3% during the second quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock valued at $152,000 after buying an additional 3,161 shares during the last quarter. Flinton Capital Management LLC lifted its position in shares of Tenet Healthcare Corporation by 65.7% during the second quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock valued at $153,000 after buying an additional 3,128 shares during the last quarter. Finally, Pentwater Capital Management LP purchased a new stake in shares of Tenet Healthcare Corporation during the third quarter valued at about $164,000.

Tenet Healthcare Corporation Company Profile

Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.

Earnings History and Estimates for Tenet Healthcare Corporation (NYSE:THC)

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