Tenet Healthcare (NYSE:THC – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $10.41-$11.12 for the period, compared to the consensus earnings per share estimate of $8.81. The company issued revenue guidance of $20.6-$21.0 billion, compared to the consensus revenue estimate of $20.39 billion. Tenet Healthcare also updated its FY 2024 guidance to 10.410-11.120 EPS.
Tenet Healthcare Stock Performance
Shares of NYSE:THC traded up $3.30 on Thursday, reaching $148.64. 1,659,458 shares of the company’s stock were exchanged, compared to its average volume of 1,226,095. The firm has a market capitalization of $14.52 billion, a price-to-earnings ratio of 5.80, a PEG ratio of 1.25 and a beta of 2.15. Tenet Healthcare has a fifty-two week low of $51.04 and a fifty-two week high of $151.00. The business’s 50-day moving average is $134.07 and its two-hundred day moving average is $109.95. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.58.
Tenet Healthcare (NYSE:THC – Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 earnings per share. As a group, equities research analysts forecast that Tenet Healthcare will post 8.87 EPS for the current year.
Analyst Upgrades and Downgrades
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Insiders Place Their Bets
In other Tenet Healthcare news, Director Christopher S. Lynch sold 10,861 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $133.83, for a total value of $1,453,527.63. Following the sale, the director now directly owns 14,759 shares in the company, valued at $1,975,196.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tenet Healthcare news, Director Christopher S. Lynch sold 10,861 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $133.83, for a total value of $1,453,527.63. Following the sale, the director now directly owns 14,759 shares in the company, valued at $1,975,196.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas W. Arnst sold 8,148 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,691 shares of company stock worth $3,117,909. 0.93% of the stock is owned by corporate insiders.
About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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