Community Health Systems (NYSE:CYH) Releases Earnings Results

Community Health Systems (NYSE:CYH) announced its quarterly earnings data on Wednesday. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05, Briefing.com reports. Community Health Systems had a negative return on equity of 5.51% and a negative net margin of 1.07%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company earned ($0.43) EPS. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Community Health Systems updated its FY 2024 guidance to -0.650–0.050 EPS.

Community Health Systems Stock Up 8.9 %

CYH stock traded up $0.27 during midday trading on Thursday, reaching $3.30. 2,249,630 shares of the company’s stock traded hands, compared to its average volume of 2,056,172. The company has a 50-day simple moving average of $3.09 and a two-hundred day simple moving average of $3.05. Community Health Systems has a 1-year low of $2.01 and a 1-year high of $6.53. The company has a market cap of $458.63 million, a price-to-earnings ratio of -3.12 and a beta of 1.52.

Analysts Set New Price Targets

CYH has been the subject of a number of research reports. Barclays assumed coverage on Community Health Systems in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $3.00 price objective for the company. StockNews.com upgraded Community Health Systems from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, Oppenheimer cut their target price on Community Health Systems from $5.50 to $4.50 and set an “outperform” rating for the company in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Community Health Systems has an average rating of “Hold” and a consensus target price of $4.00.

About Community Health Systems

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.