Wall Street brokerages expect Tenet Healthcare Corp (NYSE:THC) to report sales of $4.64 billion for the current quarter, according to Zacks. Eight analysts have issued estimates for Tenet Healthcare’s earnings, with the highest sales estimate coming in at $4.76 billion and the lowest estimate coming in at $4.27 billion. Tenet Healthcare reported sales of $4.55 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 2%. The business is scheduled to report its next quarterly earnings results on Monday, May 4th.

On average, analysts expect that Tenet Healthcare will report full year sales of $18.94 billion for the current financial year, with estimates ranging from $17.81 billion to $19.37 billion. For the next fiscal year, analysts forecast that the company will post sales of $19.86 billion, with estimates ranging from $19.58 billion to $20.18 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Tenet Healthcare had a positive return on equity of 47.57% and a negative net margin of 1.26%. Tenet Healthcare’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 earnings per share.

A number of analysts have recently weighed in on the company. ValuEngine upgraded Tenet Healthcare from a “strong sell” rating to a “sell” rating in a research note on Thursday. Barclays restated a “hold” rating and set a $19.00 target price on shares of Tenet Healthcare in a report on Wednesday, March 25th. JPMorgan Chase & Co. raised Tenet Healthcare from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $31.00 to $32.00 in a research report on Wednesday, February 26th. Royal Bank of Canada raised Tenet Healthcare from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $32.00 to $39.00 in a research report on Wednesday, March 11th. Finally, Deutsche Bank began coverage on Tenet Healthcare in a research report on Friday, January 3rd. They set a “hold” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Tenet Healthcare currently has a consensus rating of “Hold” and a consensus target price of $31.50.

Tenet Healthcare stock traded down $0.34 during mid-day trading on Monday, hitting $19.87. 4,644,114 shares of the company were exchanged, compared to its average volume of 2,229,839. The company has a quick ratio of 1.13, a current ratio of 1.21 and a debt-to-equity ratio of 30.19. The business has a fifty day moving average of $21.08 and a 200 day moving average of $28.69. Tenet Healthcare has a 1-year low of $10.00 and a 1-year high of $39.37. The company has a market capitalization of $2.27 billion, a PE ratio of -8.86, a price-to-earnings-growth ratio of 0.82 and a beta of 2.15.

In related news, CFO Daniel J. Cancelmi acquired 19,220 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $15.79 per share, for a total transaction of $303,483.80. Following the completion of the acquisition, the chief financial officer now owns 339,937 shares in the company, valued at $5,367,605.23. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, EVP Marie Quintana acquired 2,596 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was bought at an average price of $14.18 per share, for a total transaction of $36,811.28. Over the last three months, insiders bought 54,316 shares of company stock valued at $851,745. Company insiders own 1.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. State of Michigan Retirement System boosted its position in Tenet Healthcare by 2.0% during the 4th quarter. State of Michigan Retirement System now owns 30,600 shares of the company’s stock valued at $1,164,000 after acquiring an additional 600 shares in the last quarter. Profund Advisors LLC lifted its position in Tenet Healthcare by 5.6% in the 4th quarter. Profund Advisors LLC now owns 11,607 shares of the company’s stock valued at $441,000 after acquiring an additional 613 shares in the last quarter. Texas Permanent School Fund lifted its position in Tenet Healthcare by 0.9% in the 4th quarter. Texas Permanent School Fund now owns 71,065 shares of the company’s stock valued at $2,703,000 after acquiring an additional 654 shares in the last quarter. Comerica Bank raised its stake in Tenet Healthcare by 1.3% during the 4th quarter. Comerica Bank now owns 60,230 shares of the company’s stock valued at $1,970,000 after buying an additional 789 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in Tenet Healthcare by 0.6% during the 4th quarter. Retirement Systems of Alabama now owns 135,289 shares of the company’s stock valued at $5,145,000 after buying an additional 815 shares during the last quarter. 99.03% of the stock is currently owned by institutional investors and hedge funds.

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 and Estimates for Tenet Healthcare (NYSE:THC)

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