Tenet Healthcare Corporation (NYSE:THC) – Research analysts at KeyCorp reduced their FY2017 earnings estimates for shares of Tenet Healthcare Corporation in a research note issued to investors on Tuesday. KeyCorp analyst J. Gurda now expects that the company will earn $0.92 per share for the year, down from their previous forecast of $1.13.

THC has been the topic of a number of other reports. ValuEngine downgraded shares of Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Credit Suisse Group boosted their price target on shares of Tenet Healthcare Corporation from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, May 5th. Jefferies Group LLC reissued a “buy” rating and issued a $28.00 price target on shares of Tenet Healthcare Corporation in a research note on Thursday, April 13th. Royal Bank Of Canada reissued a “hold” rating and issued a $25.00 price target on shares of Tenet Healthcare Corporation in a research note on Tuesday, July 18th. Finally, Mizuho reissued a “neutral” rating and issued a $18.00 price target on shares of Tenet Healthcare Corporation in a research note on Sunday, April 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $22.93.

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Tenet Healthcare Corporation (THC) opened at 13.53 on Thursday. Tenet Healthcare Corporation has a 12-month low of $13.31 and a 12-month high of $26.58. The stock’s 50 day moving average is $18.46 and its 200 day moving average is $18.10. The stock’s market capitalization is $1.36 billion. Tenet Healthcare Corporation also saw unusually large options trading activity on Monday. Stock investors bought 14,690 put options on the company. This is an increase of 974% compared to the average volume of 1,368 put options.

Tenet Healthcare Corporation (NYSE:THC) last released its earnings results on Monday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative net margin of 0.97% and a negative return on equity of 2.00%. The firm had revenue of $14.80 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the business earned $0.38 earnings per share. The business’s revenue was up 204.1% on a year-over-year basis.

Several hedge funds and other institutional investors have recently made changes to their positions in THC. FNY Managed Accounts LLC acquired a new position in shares of Tenet Healthcare Corporation during the first quarter worth $109,000. PNC Financial Services Group Inc. boosted its position in shares of Tenet Healthcare Corporation by 52.1% in the first quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock worth $117,000 after buying an additional 2,266 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Tenet Healthcare Corporation by 57.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock worth $126,000 after buying an additional 2,590 shares during the period. First Mercantile Trust Co. boosted its position in shares of Tenet Healthcare Corporation by 23.8% in the first quarter. First Mercantile Trust Co. now owns 9,900 shares of the company’s stock worth $175,000 after buying an additional 1,900 shares during the period. Finally, Advantus Capital Management Inc boosted its position in shares of Tenet Healthcare Corporation by 3.2% in the first quarter. Advantus Capital Management Inc now owns 10,223 shares of the company’s stock worth $181,000 after buying an additional 317 shares during the period.

About Tenet Healthcare Corporation

Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.

Earnings History and Estimates for Tenet Healthcare Corporation (NYSE:THC)

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