Tenet Healthcare (THC) to Release Quarterly Earnings on Tuesday

Tenet Healthcare (NYSE:THC) will be posting its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Tenet Healthcare to post earnings of $1.41 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the firm posted $1.96 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, analysts expect Tenet Healthcare to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $96.13 on Friday. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. Tenet Healthcare has a 1-year low of $51.04 and a 1-year high of $107.80. The company has a market capitalization of $9.54 billion, a P/E ratio of 16.84, a P/E/G ratio of 3.12 and a beta of 2.08. The firm’s 50 day simple moving average is $98.22 and its two-hundred day simple moving average is $80.54.

Insider Buying and Selling

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the sale, the director now owns 20,127 shares in the company, valued at approximately $1,775,402.67. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now owns 20,127 shares in the company, valued at approximately $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard J. Mark sold 14,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the transaction, the director now owns 33,303 shares in the company, valued at approximately $3,296,330.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,268 shares of company stock worth $4,944,810. 0.93% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $104.00 price target on shares of Tenet Healthcare in a research report on Wednesday, April 10th. TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Finally, Truist Financial lifted their price objective on shares of Tenet Healthcare from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $100.38.

Tenet Healthcare Company Profile

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.