Barclays Has Lowered Expectations for Community Health Systems (NYSE:CYH) Stock Price

Community Health Systems (NYSE:CYH) had its price objective dropped by analysts at Barclays from $2.50 to $2.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s target price suggests a potential downside of 15.07% from the company’s previous close.

CYH has been the topic of a number of other research reports. Royal Bank Of Canada lowered their price objective on Community Health Systems from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Monday, July 27th. BMO Capital Markets started coverage on Community Health Systems in a research report on Tuesday, September 22nd. They set a “market perform” rating and a $3.00 target price for the company. Truist Financial decreased their target price on Community Health Systems from $3.25 to $2.50 and set a “hold” rating on the stock in a research note on Tuesday. Wells Fargo & Company lowered their price target on Community Health Systems from $2.00 to $1.00 and set an “underweight” rating on the stock in a report on Tuesday. Finally, Wall Street Zen downgraded Community Health Systems from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $2.51.

Community Health Systems Stock Up 14.9%

NYSE:CYH traded up $0.30 during mid-day trading on Wednesday, hitting $2.35. 3,268,624 shares of the stock traded hands, compared to its average volume of 1,626,220. The business’s 50-day moving average price is $2.83 and its 200 day moving average price is $3.03. The company has a market cap of $332.13 million, a PE ratio of 9.06 and a beta of 1.90. Community Health Systems has a 12-month low of $2.04 and a 12-month high of $3.92.

Community Health Systems (NYSE:CYH) last posted its earnings results on Wednesday, October 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.19). Community Health Systems had a negative return on equity of 6.66% and a net margin of 0.31%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the company earned $1.27 earnings per share. The business’s revenue for the quarter was down 10.7% compared to the same quarter last year. Analysts anticipate that Community Health Systems will post -1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Community Health Systems news, Director William Jennings sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $2.96, for a total transaction of $118,400.00. Following the sale, the director owned 38,468 shares in the company, valued at $113,865.28. This trade represents a 50.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Community Health Systems

Institutional investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new stake in Community Health Systems in the 1st quarter worth approximately $40,000. Legal & General Group Plc bought a new position in Community Health Systems during the second quarter valued at approximately $45,000. Sequoia Financial Advisors LLC bought a new position in Community Health Systems during the second quarter valued at approximately $64,000. M Holdings Securities Inc. purchased a new position in shares of Community Health Systems during the third quarter worth approximately $72,000. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Community Health Systems during the second quarter worth approximately $74,000. 84.99% of the stock is currently owned by institutional investors.

Community Health Systems Company Profile

Community Health Systems, Inc (NYSE: CYH) is a healthcare services company that owns, leases, and operates general acute-care hospitals and related healthcare facilities in the United States. The company focuses primarily on serving communities in small cities and non-urban markets, providing access to hospital-based and outpatient care.

Its services generally include emergency care, inpatient and outpatient treatment, surgery, diagnostic imaging, laboratory services, rehabilitation, and other clinical programs.