Tenet Healthcare Corporation (THC) Updates Q4 Earnings Guidance
Tenet Healthcare Corporation (NYSE:THC) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $1.20-1.35 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.51. The company issued revenue guidance of $4.8-5 billion, compared to the consensus revenue estimate of $4.94 billion.
Tenet Healthcare Corporation (NYSE:THC) traded down $0.44 during trading hours on Monday, reaching $12.64. The company’s stock had a trading volume of 5,482,953 shares, compared to its average volume of 4,029,228. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 14.23.
A number of brokerages have recently issued reports on THC. Robert W. Baird reissued a buy rating and set a $23.00 target price on shares of Tenet Healthcare Corporation in a research note on Thursday, August 24th. Citigroup Inc. reissued a hold rating and set a $16.00 target price on shares of Tenet Healthcare Corporation in a research note on Thursday, September 14th. Royal Bank Of Canada reissued a hold rating and set a $19.00 target price on shares of Tenet Healthcare Corporation in a research note on Monday, September 25th. Mizuho reaffirmed a neutral rating and issued a $14.00 price objective on shares of Tenet Healthcare Corporation in a research note on Sunday, August 20th. Finally, Credit Suisse Group began coverage on Tenet Healthcare Corporation in a research note on Thursday. They issued a neutral rating and a $15.00 price objective for the company. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $20.20.
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Tenet Healthcare Corporation Company Profile
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.
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