Equities research analysts expect Community Health Systems (NYSE:CYH) to announce $3.53 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Community Health Systems’ earnings. The lowest sales estimate is $3.37 billion and the highest is $3.59 billion. Community Health Systems reported sales of $4.47 billion in the same quarter last year, which would suggest a negative year over year growth rate of 21%. The firm is scheduled to issue its next quarterly earnings results on Monday, February 19th.
According to Zacks, analysts expect that Community Health Systems will report full year sales of $3.53 billion for the current fiscal year, with estimates ranging from $15.67 billion to $15.89 billion. For the next financial year, analysts anticipate that the business will post sales of $13.97 billion per share, with estimates ranging from $12.39 billion to $14.81 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Community Health Systems.
Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.77) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.47). Community Health Systems had a negative net margin of 3.97% and a negative return on equity of 3.10%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the firm posted ($0.35) EPS. Community Health Systems’s quarterly revenue was down 16.3% compared to the same quarter last year.
A number of brokerages have weighed in on CYH. Credit Suisse Group began coverage on Community Health Systems in a research note on Thursday, November 2nd. They issued an “underperform” rating and a $3.50 price objective for the company. ValuEngine cut Community Health Systems from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. Robert W. Baird reiterated a “hold” rating and issued a $7.00 price objective on shares of Community Health Systems in a research note on Wednesday, October 4th. Piper Jaffray Companies reiterated a “sell” rating and issued a $6.00 price objective on shares of Community Health Systems in a research note on Friday, October 13th. Finally, Mizuho reiterated a “hold” rating and issued a $7.00 price objective on shares of Community Health Systems in a research note on Thursday, October 12th. Eight equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. Community Health Systems currently has a consensus rating of “Hold” and a consensus price target of $6.26.
In related news, major shareholder Tian Qiao Chen purchased 406,069 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was acquired at an average price of $4.00 per share, for a total transaction of $1,624,276.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.70% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Community Health Systems by 4.3% during the second quarter. Vanguard Group Inc. now owns 10,377,548 shares of the company’s stock worth $103,361,000 after purchasing an additional 424,006 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Community Health Systems by 31.3% during the third quarter. Dimensional Fund Advisors LP now owns 6,508,663 shares of the company’s stock worth $49,986,000 after purchasing an additional 1,551,499 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Community Health Systems by 226.4% during the third quarter. JPMorgan Chase & Co. now owns 4,228,000 shares of the company’s stock worth $31,880,000 after purchasing an additional 2,932,700 shares during the last quarter. Royce & Associates LP raised its stake in shares of Community Health Systems by 10.0% during the third quarter. Royce & Associates LP now owns 2,482,295 shares of the company’s stock worth $19,064,000 after purchasing an additional 226,500 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Community Health Systems by 11.3% during the third quarter. California Public Employees Retirement System now owns 1,645,329 shares of the company’s stock worth $12,636,000 after purchasing an additional 167,633 shares during the last quarter. Institutional investors and hedge funds own 94.72% of the company’s stock.
Shares of Community Health Systems (NYSE CYH) traded down $0.17 during midday trading on Friday, reaching $4.08. The company’s stock had a trading volume of 2,635,927 shares, compared to its average volume of 2,502,627. The company has a debt-to-equity ratio of 10.62, a current ratio of 2.05 and a quick ratio of 1.86. Community Health Systems has a one year low of $3.85 and a one year high of $10.51.
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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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