Brokerages expect Tenet Healthcare Corp (NYSE:THC) to report $4.49 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Tenet Healthcare’s earnings, with the lowest sales estimate coming in at $4.41 billion and the highest estimate coming in at $4.57 billion. Tenet Healthcare posted sales of $4.51 billion in the same quarter last year, which would suggest a negative year over year growth rate of 0.4%. The company is scheduled to report its next quarterly earnings results on Monday, August 5th.

On average, analysts expect that Tenet Healthcare will report full year sales of $18.21 billion for the current year, with estimates ranging from $18.04 billion to $18.36 billion. For the next year, analysts expect that the company will post sales of $18.68 billion, with estimates ranging from $17.65 billion to $19.28 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.25. Tenet Healthcare had a positive return on equity of 29.29% and a negative net margin of 0.04%. The company had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same quarter last year, the firm posted $0.57 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis.

Several research analysts have commented on the company. TheStreet downgraded Tenet Healthcare from a “c” rating to a “d+” rating in a research note on Monday, May 13th. ValuEngine downgraded Tenet Healthcare from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. SunTrust Banks cut their target price on Tenet Healthcare to $27.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Barclays set a $24.00 target price on Tenet Healthcare and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Finally, Raymond James raised their target price on Tenet Healthcare from $37.00 to $47.00 in a research note on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $30.07.

Shares of NYSE THC opened at $22.00 on Wednesday. Tenet Healthcare has a 52 week low of $16.60 and a 52 week high of $39.74. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 21.98. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 0.42 and a beta of 1.68.

Institutional investors and hedge funds have recently modified their holdings of the company. Retirement Systems of Alabama boosted its position in shares of Tenet Healthcare by 0.6% during the 1st quarter. Retirement Systems of Alabama now owns 108,254 shares of the company’s stock valued at $3,122,000 after acquiring an additional 611 shares during the last quarter. GWM Advisors LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at about $201,000. GSA Capital Partners LLP boosted its position in shares of Tenet Healthcare by 925.8% during the 4th quarter. GSA Capital Partners LLP now owns 85,951 shares of the company’s stock valued at $1,473,000 after acquiring an additional 77,572 shares during the last quarter. Flinton Capital Management LLC boosted its position in shares of Tenet Healthcare by 3.6% during the 4th quarter. Flinton Capital Management LLC now owns 14,484 shares of the company’s stock valued at $248,000 after acquiring an additional 510 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Tenet Healthcare by 1.2% during the 4th quarter. Arizona State Retirement System now owns 59,589 shares of the company’s stock valued at $1,021,000 after acquiring an additional 696 shares during the last quarter.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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

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