Community Health Systems (NYSE:CYH) Issues Quarterly Earnings Results, Misses Estimates By $0.31 EPS

Community Health Systems (NYSE:CYH) released its earnings results on Tuesday. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.31), FiscalAI reports. Community Health Systems had a net margin of 4.08% and a negative return on equity of 11.38%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.89 billion.

Community Health Systems Stock Down 3.0%

Shares of NYSE CYH traded down $0.10 during midday trading on Tuesday, hitting $3.05. 2,095,758 shares of the company’s stock were exchanged, compared to its average volume of 1,556,566. Community Health Systems has a 12 month low of $2.34 and a 12 month high of $4.47. The company’s 50 day moving average price is $3.21 and its 200 day moving average price is $3.28. The firm has a market capitalization of $430.40 million, a PE ratio of 0.81 and a beta of 1.97.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Zacks Research upgraded Community Health Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Weiss Ratings lowered Community Health Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 19th. Truist Financial lowered their price target on Community Health Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a research report on Monday, April 13th. UBS Group boosted their price target on Community Health Systems from $3.60 to $3.70 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Finally, Wells Fargo & Company lowered their price target on Community Health Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Community Health Systems has an average rating of “Hold” and a consensus price target of $3.45.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in Community Health Systems by 601.9% in the 4th quarter. Royal Bank of Canada now owns 9,286 shares of the company’s stock valued at $29,000 after purchasing an additional 7,963 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Community Health Systems during the 4th quarter worth $34,000. Quarry LP acquired a new position in Community Health Systems in the 3rd quarter worth about $39,000. CIBC Bancorp USA Inc. acquired a new position in Community Health Systems in the 3rd quarter worth about $44,000. Finally, Oxford Asset Management LLP acquired a new position in Community Health Systems in the 4th quarter worth about $45,000. 84.99% of the stock is currently owned by institutional investors.

Community Health Systems Company Profile

Community Health Systems, Inc (NYSE: CYH) is one of the largest publicly traded hospital operators in the United States. Headquartered in Franklin, Tennessee, the company owns, leases and manages general acute care hospitals and outpatient facilities, primarily in non-urban and mid-market communities. CHS is focused on delivering locally accessible healthcare services through its network of affiliated hospitals, clinics and post-acute providers.

The company’s core offerings include inpatient medical and surgical care, emergency services, critical care, diagnostic imaging and laboratory testing.