Tenet Healthcare (NYSE:THC) Issues Earnings Results, Beats Estimates By $0.52 EPS

Tenet Healthcare (NYSE:THC) announced its quarterly earnings results on Tuesday. The company reported $1.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.52, MarketWatch Earnings reports. Tenet Healthcare had a net margin of 2.25% and a return on equity of 65.38%. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the company posted $1.26 EPS. The company’s revenue was up 35.8% on a year-over-year basis.

Shares of Tenet Healthcare stock traded down $1.89 during trading hours on Thursday, reaching $70.36. The company’s stock had a trading volume of 121,580 shares, compared to its average volume of 910,219. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 14.86. The business has a fifty day simple moving average of $66.97. Tenet Healthcare has a one year low of $21.34 and a one year high of $73.65. The stock has a market cap of $7.51 billion, a P/E ratio of 19.37 and a beta of 2.61.

THC has been the subject of several recent analyst reports. increased their price objective on shares of Tenet Healthcare from $58.00 to $65.00 in a research report on Thursday, April 22nd. Zacks Investment Research cut shares of Tenet Healthcare from a “buy” rating to a “hold” rating and set a $72.00 price objective for the company. in a research report on Tuesday, June 22nd. Royal Bank of Canada increased their price objective on shares of Tenet Healthcare from $57.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, April 22nd. Barclays increased their target price on shares of Tenet Healthcare from $55.00 to $62.00 in a research note on Friday, April 23rd. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Tenet Healthcare in a research note on Friday, June 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $57.50.

In related news, insider R. Scott Ramsey sold 8,662 shares of the firm’s stock in a transaction dated Friday, May 14th. The shares were sold at an average price of $64.04, for a total transaction of $554,714.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Howard Hacker sold 6,382 shares of the firm’s stock in a transaction dated Friday, May 28th. The stock was sold at an average price of $66.70, for a total transaction of $425,679.40. The disclosure for this sale can be found here. Insiders have sold 21,197 shares of company stock worth $1,371,540 over the last three months. 1.60% of the stock is owned by insiders.

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.

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Earnings History for Tenet Healthcare (NYSE:THC)

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