Analysts predict that Community Health Systems (NYSE:CYH) will report $3.63 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for Community Health Systems’ earnings, with the highest sales estimate coming in at $3.82 billion and the lowest estimate coming in at $3.51 billion. Community Health Systems posted sales of $4.49 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 19.2%. The company is scheduled to issue its next earnings results after the market closes on Tuesday, May 1st.
According to Zacks, analysts expect that Community Health Systems will report full-year sales of $13.74 billion for the current fiscal year, with estimates ranging from $13.60 billion to $14.03 billion. For the next financial year, analysts expect that the company will post sales of $13.19 billion per share, with estimates ranging from $12.85 billion to $13.74 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Community Health Systems.
Community Health Systems (NYSE:CYH) last issued its earnings results on Tuesday, February 27th. The company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.09. Community Health Systems had a negative return on equity of 14.18% and a negative net margin of 16.01%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. Community Health Systems’s quarterly revenue was down 31.6% compared to the same quarter last year.
A number of equities analysts have commented on CYH shares. Goldman Sachs started coverage on Community Health Systems in a research note on Wednesday, January 3rd. They issued a “sell” rating and a $3.00 target price for the company. ValuEngine downgraded Community Health Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, February 3rd. Zacks Investment Research downgraded Community Health Systems from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Cantor Fitzgerald restated a “hold” rating and issued a $6.00 target price on shares of Community Health Systems in a research note on Thursday, February 1st. Finally, Wells Fargo started coverage on Community Health Systems in a research note on Tuesday, January 30th. They issued an “underperform” rating and a $4.50 target price for the company. Eight research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. Community Health Systems currently has an average rating of “Hold” and an average price target of $6.04.
CYH stock traded down $0.14 during midday trading on Thursday, reaching $4.02. The company had a trading volume of 1,277,407 shares, compared to its average volume of 1,911,777. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of -20.06. Community Health Systems has a fifty-two week low of $3.77 and a fifty-two week high of $10.51. The company has a market cap of $460.80, a P/E ratio of -3.35 and a beta of 1.59.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Community Health Systems in the fourth quarter worth approximately $100,000. Macquarie Group Ltd. acquired a new stake in Community Health Systems in the third quarter worth approximately $154,000. Acadian Asset Management LLC acquired a new stake in Community Health Systems in the fourth quarter worth approximately $157,000. Bank of Montreal Can lifted its position in Community Health Systems by 882.1% in the fourth quarter. Bank of Montreal Can now owns 37,084 shares of the company’s stock worth $158,000 after purchasing an additional 33,308 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in Community Health Systems in the fourth quarter worth approximately $162,000.
About Community Health Systems
Community Health Systems, Inc, together with its subsidiaries, 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.
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