FY2017 Earnings Forecast for Community Health Systems, Inc. (CYH) Issued By Cantor Fitzgerald
Community Health Systems, Inc. (NYSE:CYH) – Equities researchers at Cantor Fitzgerald reduced their FY2017 earnings per share (EPS) estimates for shares of Community Health Systems in a research note issued on Tuesday. Cantor Fitzgerald analyst J. France now forecasts that the company will post earnings per share of ($1.25) for the year, down from their previous estimate of ($0.15). Cantor Fitzgerald has a “Hold” rating and a $6.00 price target on the stock. Cantor Fitzgerald also issued estimates for Community Health Systems’ FY2018 earnings at ($0.90) EPS.
Several other research analysts also recently weighed in on the company. ValuEngine upgraded Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. Jefferies Group LLC restated a “hold” rating and set a $7.00 target price on shares of Community Health Systems in a research note on Tuesday, September 5th. Robert W. Baird restated a “hold” rating and set a $7.00 target price on shares of Community Health Systems in a research note on Friday, September 1st. Credit Suisse Group started coverage on Community Health Systems in a research note on Thursday, November 2nd. They set an “underperform” rating and a $3.50 target price on the stock. Finally, Zacks Investment Research upgraded Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, July 21st. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company’s stock. Community Health Systems has an average rating of “Hold” and an average target price of $6.47.
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Community Health Systems (NYSE:CYH) opened at $4.38 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.86 and a debt-to-equity ratio of 10.62. Community Health Systems has a 1 year low of $4.29 and a 1 year high of $10.51.
Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.47). The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.70 billion. Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. The company’s revenue was down 16.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.35) earnings per share.
In other Community Health Systems news, major shareholder Tian Qiao Chen purchased 9,766,897 shares of Community Health Systems stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $7.27 per share, with a total value of $71,005,341.19. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CYH. Alps Advisors Inc. acquired a new position in Community Health Systems in the 2nd quarter worth about $107,000. Shelton Capital Management acquired a new position in Community Health Systems in the 2nd quarter worth about $110,000. ARP Americas LLC acquired a new position in Community Health Systems in the 3rd quarter worth about $121,000. Fox Run Management L.L.C. acquired a new position in Community Health Systems in the 2nd quarter worth about $126,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Community Health Systems by 134.4% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 14,300 shares of the company’s stock worth $127,000 after purchasing an additional 8,200 shares during the period. 99.59% of the stock is owned by institutional investors.
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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