Community Health Systems (CYH) Bonds Trading 2.2% Higher

An issue of Community Health Systems, Inc. (NYSE:CYH) debt rose 2.2% against its face value during trading on Thursday. The debt issue has a 8% coupon and will mature on November 15, 2019. The debt is now trading at $88.72 and was trading at $88.88 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.

A number of research firms have issued reports on CYH. ValuEngine upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Friday. KeyCorp reiterated a “hold” rating on shares of Community Health Systems in a research report on Thursday, September 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $7.00 target price (down previously from $8.00) on shares of Community Health Systems in a research report on Wednesday, August 16th. SunTrust Banks set a $7.00 target price on shares of Community Health Systems and gave the stock a “hold” rating in a research report on Sunday, October 15th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $5.00 target price on shares of Community Health Systems in a research report on Tuesday, November 7th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the company. Community Health Systems currently has an average rating of “Hold” and a consensus target price of $6.47.

Community Health Systems, Inc. (NYSE:CYH) opened at $4.35 on Friday. Community Health Systems, Inc. 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 announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the company earned ($0.35) EPS. The business’s revenue for the quarter was down 16.3% compared to the same quarter last year. sell-side analysts expect that Community Health Systems, Inc. will post -1.25 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in CYH. Teachers Advisors LLC increased its stake in shares of Community Health Systems by 3.6% during the 1st quarter. Teachers Advisors LLC now owns 205,085 shares of the company’s stock worth $1,819,000 after purchasing an additional 7,144 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Community Health Systems by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,137,209 shares of the company’s stock valued at $18,957,000 after buying an additional 15,523 shares during the last quarter. State Street Corp grew its stake in Community Health Systems by 0.8% in the 1st quarter. State Street Corp now owns 3,292,332 shares of the company’s stock valued at $29,203,000 after buying an additional 25,290 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its stake in Community Health Systems by 5.8% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 79,462 shares of the company’s stock valued at $705,000 after buying an additional 4,352 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in Community Health Systems by 158.7% in the 2nd quarter. Bank of Montreal Can now owns 15,702 shares of the company’s stock valued at $156,000 after buying an additional 9,632 shares during the last quarter. Institutional investors own 94.74% of the company’s stock.

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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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