Community Health Systems, Inc. (NYSE:CYH) – Research analysts at Oppenheimer issued their Q1 2023 EPS estimates for shares of Community Health Systems in a report released on Wednesday, January 19th. Oppenheimer analyst M. Wiederhorn expects that the company will post earnings of $0.37 per share for the quarter. Oppenheimer also issued estimates for Community Health Systems’ Q2 2023 earnings at $0.42 EPS, Q3 2023 earnings at $0.51 EPS, Q4 2023 earnings at $0.67 EPS, FY2023 earnings at $1.97 EPS and FY2024 earnings at $2.47 EPS.
Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Tuesday, October 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.13 by $0.56. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.02 billion. Community Health Systems had a negative return on equity of 18.40% and a net margin of 2.97%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share.
Several other brokerages also recently weighed in on CYH. Credit Suisse Group raised their price target on Community Health Systems from $12.00 to $14.50 and gave the company a “neutral” rating in a report on Friday, October 29th. Bank of America upgraded Community Health Systems from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $16.00 in a report on Monday, December 13th. Zacks Investment Research upgraded Community Health Systems from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a report on Friday, October 29th. Finally, Truist Financial reduced their price objective on Community Health Systems from $14.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.89.
Shares of NYSE:CYH opened at $13.06 on Friday. Community Health Systems has a 1-year low of $7.89 and a 1-year high of $17.04. The business has a fifty day moving average price of $13.11 and a 200-day moving average price of $12.82. The company has a market capitalization of $1.73 billion, a PE ratio of 4.43, a PEG ratio of 0.57 and a beta of 1.74.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Community Health Systems by 9.9% in the 2nd quarter. BlackRock Inc. now owns 19,326,289 shares of the company’s stock worth $298,397,000 after purchasing an additional 1,735,139 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Community Health Systems by 6.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,423,455 shares of the company’s stock worth $130,059,000 after purchasing an additional 514,904 shares in the last quarter. State Street Corp lifted its holdings in Community Health Systems by 21.5% in the 2nd quarter. State Street Corp now owns 3,923,030 shares of the company’s stock worth $60,572,000 after purchasing an additional 693,184 shares in the last quarter. Kylin Management LLC purchased a new position in Community Health Systems in the 2nd quarter worth approximately $50,952,000. Finally, Dimensional Fund Advisors LP increased its stake in Community Health Systems by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,295,153 shares of the company’s stock worth $50,875,000 after acquiring an additional 378,782 shares during the last quarter. 79.62% of the stock is currently owned by institutional investors.
About Community Health Systems
Community Health Systems, Inc engages in the management and operations of hospitals. It operates general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services. The company was founded in March 1985 and is headquartered in Franklin, TN.
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