Community Health Systems (NYSE:CYH) Releases Earnings Results, Beats Expectations By $0.05 EPS

Community Health Systems (NYSE:CYH) posted its quarterly earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05, Briefing.com reports. Community Health Systems had a negative net margin of 1.07% and a negative return on equity of 5.51%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the firm posted ($0.43) EPS. Community Health Systems’s revenue for the quarter was up 1.0% compared to the same quarter last year. Community Health Systems updated its FY 2024 guidance to -0.650–0.050 EPS.

Community Health Systems Price Performance

Shares of CYH stock traded up $0.18 during trading on Thursday, reaching $3.21. The company’s stock had a trading volume of 2,105,486 shares, compared to its average volume of 2,054,861. The company has a market capitalization of $446.13 million, a price-to-earnings ratio of -3.12 and a beta of 1.52. Community Health Systems has a 1-year low of $2.01 and a 1-year high of $6.53. The stock’s 50-day moving average price is $3.09 and its 200 day moving average price is $3.05.

Analysts Set New Price Targets

CYH has been the subject of a number of analyst reports. Barclays started coverage on Community Health Systems in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $3.00 price target for the company. StockNews.com raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, Oppenheimer cut their price objective on Community Health Systems from $5.50 to $4.50 and set an “outperform” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.00.

Community Health Systems Company Profile

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.