Q4 2019 EPS Estimates for Tenet Healthcare Corp Increased by Jefferies Financial Group (NYSE:THC)

Tenet Healthcare Corp (NYSE:THC) – Equities research analysts at Jefferies Financial Group raised their Q4 2019 EPS estimates for shares of Tenet Healthcare in a research note issued to investors on Monday, January 13th. Jefferies Financial Group analyst B. Tanquilut now expects that the company will post earnings of $0.96 per share for the quarter, up from their previous estimate of $0.81. Jefferies Financial Group also issued estimates for Tenet Healthcare’s Q1 2020 earnings at $0.40 EPS, Q2 2020 earnings at $0.63 EPS, Q4 2020 earnings at $1.07 EPS and FY2020 earnings at $2.89 EPS.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Monday, November 4th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.30. Tenet Healthcare had a negative net margin of 1.31% and a positive return on equity of 35.68%. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the business posted $0.29 EPS. The company’s quarterly revenue was up 1.8% on a year-over-year basis.

A number of other equities analysts have also recently issued reports on THC. Zacks Investment Research cut shares of Tenet Healthcare from a “buy” rating to a “hold” rating and set a $37.00 price target on the stock. in a research note on Monday, December 9th. Mizuho reiterated a “buy” rating on shares of Tenet Healthcare in a research note on Thursday, November 7th. ValuEngine cut shares of Tenet Healthcare from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 5th. UBS Group upgraded shares of Tenet Healthcare from a “neutral” rating to a “buy” rating and upped their price target for the stock from $24.00 to $53.00 in a research note on Monday, December 9th. Finally, Credit Suisse Group upgraded shares of Tenet Healthcare from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $25.00 to $36.00 in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Tenet Healthcare has an average rating of “Hold” and a consensus target price of $34.15.

Shares of THC stock opened at $36.59 on Wednesday. Tenet Healthcare has a 12 month low of $17.18 and a 12 month high of $39.37. The stock has a market cap of $3.76 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 0.69 and a beta of 1.84. The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 30.38. The company’s fifty day moving average price is $36.50 and its 200-day moving average price is $26.38.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Tenet Healthcare by 9.8% in the 2nd quarter. BlackRock Inc. now owns 11,069,966 shares of the company’s stock worth $228,706,000 after buying an additional 988,993 shares during the last quarter. State Street Corp raised its position in Tenet Healthcare by 6.1% in the 3rd quarter. State Street Corp now owns 3,415,339 shares of the company’s stock worth $75,547,000 after buying an additional 195,206 shares during the last quarter. Camber Capital Management LP raised its position in Tenet Healthcare by 42.9% in the 2nd quarter. Camber Capital Management LP now owns 2,500,000 shares of the company’s stock worth $51,650,000 after buying an additional 750,000 shares during the last quarter. Letko Brosseau & Associates Inc. raised its position in Tenet Healthcare by 18.8% in the 3rd quarter. Letko Brosseau & Associates Inc. now owns 2,476,785 shares of the company’s stock worth $54,786,000 after buying an additional 391,475 shares during the last quarter. Finally, FMR LLC raised its position in Tenet Healthcare by 13.7% in the 1st quarter. FMR LLC now owns 1,785,117 shares of the company’s stock worth $51,483,000 after buying an additional 215,600 shares during the last quarter.

In related news, EVP Audrey T. Andrews sold 65,360 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $30.59, for a total value of $1,999,362.40. Following the transaction, the executive vice president now owns 56,602 shares in the company, valued at approximately $1,731,455.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

Recommended Story: Current Ratio

Earnings History and Estimates for Tenet Healthcare (NYSE:THC)

Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.