Oppenheimer Comments on Community Health Systems, Inc.’s FY2024 Earnings (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYHGet Rating) – Investment analysts at Oppenheimer lowered their FY2024 earnings per share estimates for shares of Community Health Systems in a research report issued to clients and investors on Thursday, July 28th. Oppenheimer analyst M. Wiederhorn now expects that the company will post earnings of $1.92 per share for the year, down from their prior forecast of $2.07. Oppenheimer currently has a “Maintains” rating and a $6.00 price target on the stock. The consensus estimate for Community Health Systems’ current full-year earnings is $0.91 per share.

Community Health Systems (NYSE:CYHGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($2.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($2.51). Community Health Systems had a net margin of 2.36% and a negative return on equity of 20.58%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the firm posted $0.23 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year.

CYH has been the topic of a number of other research reports. TheStreet downgraded Community Health Systems from a “c-” rating to a “d” rating in a report on Thursday. Loop Capital started coverage on Community Health Systems in a research report on Thursday, June 16th. They set a “hold” rating and a $5.00 price objective for the company. Citigroup reduced their price objective on Community Health Systems from $18.00 to $14.00 in a research report on Friday, April 29th. StockNews.com cut Community Health Systems from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Credit Suisse Group set a $8.00 price target on Community Health Systems in a research report on Tuesday, July 19th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, Community Health Systems has a consensus rating of “Hold” and an average price target of $9.44.

Community Health Systems Trading Up 0.7 %

Shares of CYH stock opened at $2.98 on Monday. Community Health Systems has a 1-year low of $2.88 and a 1-year high of $15.29. The company has a market capitalization of $401.39 million, a price-to-earnings ratio of 1.34, a P/E/G ratio of 0.29 and a beta of 1.95. The stock’s fifty day simple moving average is $4.43 and its 200-day simple moving average is $8.59.

Insider Activity at Community Health Systems

In other news, Director James S. Ely III purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, May 31st. The shares were purchased at an average cost of $5.12 per share, for a total transaction of $51,200.00. Following the completion of the purchase, the director now directly owns 261,299 shares of the company’s stock, valued at approximately $1,337,850.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Community Health Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio grew its stake in shares of Community Health Systems by 4.2% in the 4th quarter. Strs Ohio now owns 59,000 shares of the company’s stock valued at $785,000 after purchasing an additional 2,400 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Community Health Systems in the 4th quarter valued at approximately $732,000. Yousif Capital Management LLC bought a new stake in shares of Community Health Systems in the 4th quarter valued at approximately $1,532,000. Jackson Creek Investment Advisors LLC bought a new stake in shares of Community Health Systems in the 4th quarter valued at approximately $1,040,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Community Health Systems by 59.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,390 shares of the company’s stock worth $119,000 after acquiring an additional 3,500 shares in the last quarter. 78.41% of the stock is currently owned by institutional investors.

Community Health Systems Company Profile

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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.

Further Reading

Earnings History and Estimates for Community Health Systems (NYSE:CYH)

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