Zacks: Brokerages Anticipate Tenet Healthcare Corp (THC) Will Post Quarterly Sales of $4.38 Billion

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Equities analysts expect Tenet Healthcare Corp (NYSE:THC) to report sales of $4.38 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Tenet Healthcare’s earnings, with estimates ranging from $4.31 billion to $4.43 billion. Tenet Healthcare reported sales of $4.59 billion in the same quarter last year, which would suggest a negative year over year growth rate of 4.6%. The company is expected to issue its next earnings report after the market closes on Monday, November 5th.

On average, analysts expect that Tenet Healthcare will report full-year sales of $18.12 billion for the current fiscal year, with estimates ranging from $18.08 billion to $18.19 billion. For the next financial year, analysts forecast that the firm will report sales of $17.89 billion, with estimates ranging from $16.95 billion to $18.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, August 6th. The company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.24. The company had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.57 billion. Tenet Healthcare had a positive return on equity of 38.91% and a negative net margin of 2.51%. Tenet Healthcare’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) earnings per share.

THC has been the topic of a number of recent research reports. Zacks Investment Research raised Tenet Healthcare from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Tuesday, August 14th. Mizuho set a $36.00 target price on Tenet Healthcare and gave the company a “buy” rating in a research report on Tuesday, August 7th. Citigroup lifted their target price on Tenet Healthcare from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. ValuEngine lowered Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 27th. Finally, Barclays initiated coverage on Tenet Healthcare in a research report on Tuesday, August 14th. They issued an “equal weight” rating and a $35.00 target price on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $30.80.

Tenet Healthcare stock traded down $0.04 during midday trading on Monday, reaching $25.39. The stock had a trading volume of 1,156,329 shares, compared to its average volume of 1,912,491. Tenet Healthcare has a 1-year low of $12.25 and a 1-year high of $39.74. The firm has a market cap of $2.91 billion, a PE ratio of 31.35, a P/E/G ratio of 1.27 and a beta of 0.92. The company has a debt-to-equity ratio of 24.66, a quick ratio of 1.01 and a current ratio of 1.08.

Several large investors have recently bought and sold shares of the business. Fox Run Management L.L.C. acquired a new position in shares of Tenet Healthcare during the 3rd quarter worth approximately $483,000. Northern Trust Corp increased its position in shares of Tenet Healthcare by 4.9% during the 2nd quarter. Northern Trust Corp now owns 1,357,156 shares of the company’s stock worth $45,560,000 after purchasing an additional 63,453 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $1,464,000. Public Employees Retirement System of Ohio increased its position in shares of Tenet Healthcare by 157.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 88,865 shares of the company’s stock worth $2,983,000 after purchasing an additional 54,400 shares during the last quarter. Finally, Castleark Management LLC acquired a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $8,898,000.

About Tenet Healthcare

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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