Zacks Investment Research upgraded shares of Community Health Systems, Inc. (NYSE:CYH) from a sell rating to a hold rating in a report released on Friday morning.
According to Zacks, “Community Health is well poised for long term growth on the back of its inorganic strategies. The company’s frequent divestitures to streamline core operations have helped it lower its debt burden. As a part of their restructuring plan, the company has started taking up certain corrective measures in order to bring improvement to its top line. However, it has reported third-quarter adjusted loss was wider than the Zacks Consensus Estimate and also compares unfavorably with the year-ago quarter owing to hurricanes Harvey and Irma. Its shares have also underperformed the industry in a yea's time. Following lackluster third-quarter results, the company has lowered its 2017 earnings per share guidance. The company has seen its Zacks Consensus Estimate for 2018 earnings being revised downward in the past seven days.”
A number of other equities analysts have also recently weighed in on the company. ValuEngine cut Community Health Systems from a sell rating to a strong sell rating in a report on Tuesday, November 7th. Royal Bank Of Canada reaffirmed a hold rating and issued a $5.00 price target on shares of Community Health Systems in a report on Tuesday, November 7th. Cantor Fitzgerald reaffirmed a hold rating and issued a $6.00 price target on shares of Community Health Systems in a report on Sunday, November 5th. Mizuho reaffirmed a hold rating and issued a $3.50 price target on shares of Community Health Systems in a report on Friday, November 3rd. Finally, Citigroup Inc. reduced their price target on Community Health Systems from $7.00 to $5.00 and set a neutral rating for the company in a report on Friday, November 3rd. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $6.47.
Shares of Community Health Systems (CYH) traded down $0.11 during mid-day trading on Friday, hitting $4.27. The stock had a trading volume of 2,368,700 shares, compared to its average volume of 3,664,531. The company has a quick ratio of 1.86, a current ratio of 2.05 and a debt-to-equity ratio of 10.62. Community Health Systems has a fifty-two week low of $4.25 and a fifty-two week high of $10.51.
Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.47). The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.70 billion. Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. The business’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.35) EPS. equities research analysts expect that Community Health Systems will post -1.25 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of CYH. BlackRock Inc. grew its position in shares of Community Health Systems by 38,765.3% in the first quarter. BlackRock Inc. now owns 14,685,650 shares of the company’s stock valued at $130,263,000 after purchasing an additional 14,647,864 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Community Health Systems by 226.4% in the third quarter. JPMorgan Chase & Co. now owns 4,228,000 shares of the company’s stock valued at $31,880,000 after purchasing an additional 2,932,700 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Community Health Systems by 131.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,957,164 shares of the company’s stock valued at $49,374,000 after purchasing an additional 2,819,955 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Community Health Systems in the second quarter valued at approximately $14,946,000. Finally, Vanguard Group Inc. grew its position in shares of Community Health Systems by 15.2% in the first quarter. Vanguard Group Inc. now owns 9,953,542 shares of the company’s stock valued at $88,288,000 after purchasing an additional 1,312,513 shares in the last quarter. Institutional investors and hedge funds own 99.49% of the company’s stock.
Community Health Systems Company Profile
Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.
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