Wall Street brokerages expect that Community Health Systems (NYSE:CYH) will post $3.51 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Community Health Systems’ earnings, with the lowest sales estimate coming in at $3.39 billion and the highest estimate coming in at $3.66 billion. Community Health Systems posted sales of $4.14 billion in the same quarter last year, which would indicate a negative year over year growth rate of 15.2%. The business is scheduled to report its next quarterly earnings report on Tuesday, August 7th.
According to Zacks, analysts expect that Community Health Systems will report full year sales of $13.74 billion for the current year, with estimates ranging from $13.63 billion to $13.90 billion. For the next year, analysts expect that the firm will post sales of $13.20 billion per share, with estimates ranging from $12.69 billion to $13.82 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Community Health Systems.
Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Tuesday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.27. Community Health Systems had a negative return on equity of 36.38% and a negative net margin of 15.70%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the previous year, the company posted $0.07 earnings per share. Community Health Systems’s revenue for the quarter was down 17.8% on a year-over-year basis.
Several analysts have issued reports on CYH shares. Zacks Investment Research lowered Community Health Systems from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. ValuEngine raised Community Health Systems from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. Mizuho reissued a “hold” rating and set a $4.50 price target on shares of Community Health Systems in a report on Thursday, March 22nd. Finally, Jefferies Financial Group set a $5.00 price target on Community Health Systems and gave the company a “hold” rating in a report on Tuesday, March 6th. Eight equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $5.87.
NYSE:CYH traded down $0.09 during mid-day trading on Friday, hitting $4.28. 1,167,400 shares of the company traded hands, compared to its average volume of 2,766,711. Community Health Systems has a one year low of $3.69 and a one year high of $10.18. The company has a debt-to-equity ratio of -19.76, a quick ratio of 1.57 and a current ratio of 1.76. The firm has a market capitalization of $517.52 million, a PE ratio of -3.57 and a beta of 1.60.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Community Health Systems in the fourth quarter worth about $100,000. Bank of Montreal Can lifted its position in shares of 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 buying an additional 33,308 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Community Health Systems in the fourth quarter worth about $162,000. MetLife Investment Advisors LLC purchased a new stake in shares of Community Health Systems in the fourth quarter worth about $185,000. Finally, Element Capital Management LLC purchased a new stake in shares of Community Health Systems in the first quarter worth about $199,000. 98.79% of the stock is owned by hedge funds and other institutional investors.
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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