Community Health Systems (NYSE:CYH) Issues FY 2024 Earnings Guidance

Community Health Systems (NYSE:CYH) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of -0.600–0.500 for the period, compared to the consensus EPS estimate of -0.600. The company issued revenue guidance of $12.5 billion-$12.6 billion, compared to the consensus revenue estimate of $12.6 billion. Community Health Systems also updated its FY24 guidance to $(0.60)-$(0.50) EPS.

Analyst Ratings Changes

A number of brokerages recently issued reports on CYH. UBS Group increased their price target on shares of Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Wells Fargo & Company increased their price objective on shares of Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Oppenheimer increased their price objective on shares of Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Truist Financial increased their price objective on shares of Community Health Systems from $3.75 to $4.25 and gave the company a “hold” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Community Health Systems in a report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.73.

Community Health Systems Stock Performance

Shares of NYSE CYH traded up $0.06 during mid-day trading on Wednesday, reaching $5.55. The company’s stock had a trading volume of 1,967,339 shares, compared to its average volume of 1,752,464. The stock has a 50-day moving average of $5.54 and a two-hundred day moving average of $4.33. The stock has a market capitalization of $771.26 million, a P/E ratio of -5.82 and a beta of 1.55. Community Health Systems has a 1-year low of $2.01 and a 1-year high of $6.29.

Community Health Systems (NYSE:CYH) last issued its earnings results on Wednesday, July 24th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the business earned ($0.22) EPS. The firm’s revenue was up .8% on a year-over-year basis. Analysts predict that Community Health Systems will post -0.41 EPS for the current fiscal year.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It 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.