Tenet Healthcare Corp to Post FY2018 Earnings of $1.64 Per Share, Piper Jaffray Companies Forecasts (THC)
Tenet Healthcare Corp (NYSE:THC) – Piper Jaffray Companies decreased their FY2018 EPS estimates for Tenet Healthcare in a report issued on Tuesday, November 6th. Piper Jaffray Companies analyst S. James now anticipates that the company will post earnings per share of $1.64 for the year, down from their prior forecast of $1.84. Piper Jaffray Companies has a “Hold” rating and a $34.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Tenet Healthcare’s Q4 2018 earnings at $0.28 EPS, Q1 2019 earnings at $0.39 EPS and Q4 2019 earnings at $0.83 EPS.
Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Monday, November 5th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.18. Tenet Healthcare had a positive return on equity of 47.38% and a negative net margin of 0.61%. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the prior year, the company earned ($0.17) earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis.
Shares of Tenet Healthcare stock opened at $26.29 on Friday. Tenet Healthcare has a 12 month low of $12.45 and a 12 month high of $39.74. The company has a market cap of $2.73 billion, a P/E ratio of 32.46, a PEG ratio of 1.23 and a beta of 0.87. The company has a debt-to-equity ratio of 21.55, a current ratio of 1.06 and a quick ratio of 1.01.
A number of hedge funds have recently modified their holdings of the business. Assetmark Inc. raised its holdings in shares of Tenet Healthcare by 45.8% in the second quarter. Assetmark Inc. now owns 5,093 shares of the company’s stock worth $171,000 after buying an additional 1,601 shares during the period. Arizona State Retirement System raised its holdings in shares of Tenet Healthcare by 3.6% in the second quarter. Arizona State Retirement System now owns 56,681 shares of the company’s stock worth $1,903,000 after buying an additional 1,959 shares during the period. Amalgamated Bank raised its holdings in shares of Tenet Healthcare by 16.9% in the second quarter. Amalgamated Bank now owns 13,634 shares of the company’s stock worth $458,000 after buying an additional 1,970 shares during the period. Strs Ohio raised its holdings in shares of Tenet Healthcare by 5.4% in the third quarter. Strs Ohio now owns 44,700 shares of the company’s stock worth $1,272,000 after buying an additional 2,300 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Tenet Healthcare by 1.4% in the third quarter. Swiss National Bank now owns 178,000 shares of the company’s stock worth $5,066,000 after buying an additional 2,400 shares during the period.
Tenet Healthcare Company Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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