Brokerages expect Community Health Systems (NYSE:CYH) to report $3.16 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Community Health Systems’ earnings, with estimates ranging from $3.09 billion to $3.23 billion. Community Health Systems posted sales of $3.45 billion during the same quarter last year, which would indicate a negative year over year growth rate of 8.4%. The company is scheduled to issue its next quarterly earnings report on Monday, November 4th.
On average, analysts expect that Community Health Systems will report full-year sales of $13.05 billion for the current fiscal year, with estimates ranging from $12.95 billion to $13.19 billion. For the next year, analysts expect that the firm will post sales of $13.11 billion, with estimates ranging from $12.76 billion to $13.50 billion. Zacks’ sales calculations are an 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 earnings results on Monday, August 5th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.05. The firm had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was down 7.3% on a year-over-year basis.
CYH stock traded up $0.18 during mid-day trading on Friday, hitting $4.23. The stock had a trading volume of 2,253,344 shares, compared to its average volume of 2,212,010. Community Health Systems has a 1-year low of $1.79 and a 1-year high of $5.35. The company has a fifty day moving average of $3.43 and a 200 day moving average of $2.97. The stock has a market capitalization of $478.10 million, a price-to-earnings ratio of -2.18 and a beta of 2.37.
In other Community Health Systems news, EVP Benjamin C. Fordham bought 25,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price of $1.85 per share, with a total value of $46,250.00. Following the acquisition, the executive vice president now directly owns 184,416 shares of the company’s stock, valued at approximately $341,169.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Wayne T. Smith bought 1,200,000 shares of the stock in a transaction on Thursday, August 29th. The stock was acquired at an average cost of $1.99 per share, for a total transaction of $2,388,000.00. Following the acquisition, the chief executive officer now directly owns 3,132,082 shares in the company, valued at $6,232,843.18. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,250,000 shares of company stock worth $2,491,500. 4.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. grew its holdings in Community Health Systems by 174.0% in the 2nd quarter. Invesco Ltd. now owns 3,567,675 shares of the company’s stock valued at $9,525,000 after buying an additional 2,265,615 shares during the last quarter. Northern Trust Corp grew its holdings in Community Health Systems by 3.6% in the 2nd quarter. Northern Trust Corp now owns 1,161,698 shares of the company’s stock valued at $3,102,000 after buying an additional 40,433 shares during the last quarter. Morgan Stanley grew its holdings in Community Health Systems by 353.2% in the 2nd quarter. Morgan Stanley now owns 709,010 shares of the company’s stock valued at $1,893,000 after buying an additional 552,548 shares during the last quarter. Systematic Financial Management LP grew its holdings in Community Health Systems by 6.9% in the 2nd quarter. Systematic Financial Management LP now owns 295,610 shares of the company’s stock valued at $789,000 after buying an additional 19,195 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Community Health Systems by 183.5% in the 2nd quarter. Wells Fargo & Company MN now owns 192,558 shares of the company’s stock valued at $514,000 after buying an additional 124,633 shares during the last quarter. 96.49% of the stock is currently owned by hedge funds and other institutional investors.
Community Health Systems Company Profile
Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company 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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