Wells Fargo & Company Downgrades Community Health Systems (NYSE:CYH) to Underweight

Community Health Systems (NYSE:CYH) was downgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. They presently have a $2.50 price objective on the stock, down from their prior price objective of $5.00. Wells Fargo & Company‘s target price would indicate a potential downside of 31.51% from the company’s current price.

Several other brokerages have also commented on CYH. UBS Group upped their price target on shares of Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $6.00 target price on shares of Community Health Systems in a report on Monday, August 12th. Raymond James downgraded shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a research note on Friday. Truist Financial reduced their price objective on Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.77.

Community Health Systems Stock Performance

CYH opened at $3.65 on Monday. The stock has a market capitalization of $507.17 million, a P/E ratio of -1.21 and a beta of 1.60. Community Health Systems has a one year low of $2.31 and a one year high of $6.29. The business’s 50-day simple moving average is $5.02 and its 200-day simple moving average is $4.50.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the business posted ($0.33) EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts forecast that Community Health Systems will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Community Health Systems

A number of institutional investors and hedge funds have recently bought and sold shares of CYH. nVerses Capital LLC bought a new stake in Community Health Systems during the second quarter worth approximately $25,000. DekaBank Deutsche Girozentrale acquired a new stake in Community Health Systems during the 2nd quarter worth about $33,000. Signaturefd LLC purchased a new stake in Community Health Systems during the third quarter valued at about $33,000. Canada Pension Plan Investment Board acquired a new position in shares of Community Health Systems in the second quarter worth about $45,000. Finally, CWM LLC raised its holdings in shares of Community Health Systems by 32.1% during the third quarter. CWM LLC now owns 12,191 shares of the company’s stock valued at $74,000 after acquiring an additional 2,961 shares during the period. Institutional investors own 84.99% of the company’s stock.

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.