Community Health Systems (CYH) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Community Health Systems (NYSE:CYH) from a sell rating to a hold rating in a research note released on Friday, November 10th.

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.”

CYH has been the topic of several other research reports. Credit Suisse Group assumed coverage on Community Health Systems in a research note on Thursday, November 2nd. They issued an underperform rating and a $3.50 price target on the stock. Piper Jaffray Companies reiterated a sell rating and issued a $9.00 price target on shares of Community Health Systems in a research note on Wednesday, July 26th. Deutsche Bank decreased their price target on Community Health Systems from $13.00 to $8.00 and set a hold rating on the stock in a research note on Thursday, August 3rd. UBS reiterated a neutral rating and issued a $8.00 price target (down previously from $10.00) on shares of Community Health Systems in a research note on Wednesday, August 23rd. Finally, Jefferies Group reiterated a hold rating and issued a $7.00 price target on shares of Community Health Systems in a research note on Tuesday, September 5th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company’s stock. Community Health Systems presently has a consensus rating of Hold and a consensus price target of $6.47.

Community Health Systems (NYSE:CYH) traded up $0.26 during trading on Friday, reaching $4.45. The company’s stock had a trading volume of 3,570,900 shares, compared to its average volume of 3,608,518. Community Health Systems has a 12-month low of $3.85 and a 12-month high of $10.51. The company has a debt-to-equity ratio of 10.62, a quick ratio of 1.86 and a current ratio of 2.05.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($0.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.47). Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the business earned ($0.35) EPS. Community Health Systems’s revenue was down 16.3% on a year-over-year basis. equities research analysts expect that Community Health Systems will post -1.25 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Community Health Systems by 38,765.3% during the 1st quarter. BlackRock Inc. now owns 14,685,650 shares of the company’s stock worth $130,263,000 after buying an additional 14,647,864 shares during the period. Vanguard Group Inc. lifted its holdings in Community Health Systems by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,377,548 shares of the company’s stock worth $103,361,000 after buying an additional 424,006 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Community Health Systems by 31.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,508,663 shares of the company’s stock worth $49,986,000 after buying an additional 1,551,499 shares during the period. JPMorgan Chase & Co. lifted its holdings in Community Health Systems by 226.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,228,000 shares of the company’s stock worth $31,880,000 after buying an additional 2,932,700 shares during the period. Finally, State Street Corp lifted its holdings in Community Health Systems by 0.8% during the 1st quarter. State Street Corp now owns 3,292,332 shares of the company’s stock worth $29,203,000 after buying an additional 25,290 shares during the period. 94.74% of the stock is currently owned by hedge funds and other institutional investors.

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About Community Health Systems

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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