Brokerages forecast that Community Health Systems, Inc. (NYSE:CYH) will announce sales of $3.70 billion for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Community Health Systems’ earnings, with estimates ranging from $3.55 billion to $3.88 billion. Community Health Systems reported sales of $4.38 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 15.5%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 7th.

According to Zacks, analysts expect that Community Health Systems will report full year sales of $3.70 billion for the current financial year, with estimates ranging from $15.89 billion to $16.21 billion. For the next fiscal year, analysts forecast that the company will post sales of $14.61 billion per share, with estimates ranging from $13.71 billion to $15.30 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Community Health Systems.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings results on Tuesday, August 1st. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.31). The company had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.14 billion. Community Health Systems had a positive return on equity of 0.07% and a negative net margin of 3.63%. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS.

Several analysts have commented on CYH shares. Jefferies Group LLC reissued a “hold” rating and issued a $7.00 target price on shares of Community Health Systems in a research report on Tuesday, September 5th. Robert W. Baird reissued a “hold” rating and issued a $7.00 target price on shares of Community Health Systems in a research report on Friday, September 1st. ValuEngine raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $7.00 target price (down from $8.00) on shares of Community Health Systems in a research report on Wednesday, August 16th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. Community Health Systems currently has an average rating of “Hold” and an average price target of $7.56.

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Community Health Systems (CYH) traded down 2.74% during trading on Friday, reaching $7.10. 3,197,682 shares of the company’s stock were exchanged. The stock’s market capitalization is $794.74 million. Community Health Systems has a 52 week low of $4.15 and a 52 week high of $10.91. The company’s 50 day moving average price is $7.43 and its 200-day moving average price is $8.46.

In other news, major shareholder Tian Qiao Chen acquired 9,766,897 shares of Community Health Systems stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $7.27 per share, for a total transaction of $71,005,341.19. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.70% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC raised its stake in Community Health Systems by 105.0% during the 2nd quarter. Verition Fund Management LLC now owns 56,589 shares of the company’s stock valued at $564,000 after purchasing an additional 28,989 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in Community Health Systems during the 2nd quarter valued at $247,000. Sterling Capital Management LLC raised its stake in Community Health Systems by 44.9% during the 2nd quarter. Sterling Capital Management LLC now owns 39,069 shares of the company’s stock valued at $389,000 after purchasing an additional 12,097 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in Community Health Systems during the 2nd quarter valued at $244,000. Finally, Gotham Asset Management LLC raised its stake in Community Health Systems by 102.8% during the 2nd quarter. Gotham Asset Management LLC now owns 963,388 shares of the company’s stock valued at $9,595,000 after purchasing an additional 488,336 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Community Health Systems Company Profile

Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.

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Earnings History and Estimates for Community Health Systems (NYSE:CYH)

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