Tenet Healthcare (NYSE:THC) Updates Q4 Earnings Guidance

by · The Markets Daily

Tenet Healthcare (NYSE:THC – Get Free Report) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $2.69-3.31 for the period, compared to the consensus earnings per share estimate of $2.88. The company issued revenue guidance of $5.01-5.21 billion, compared to the consensus revenue estimate of $5.29 billion. Tenet Healthcare also updated its FY 2024 guidance to 11.120-11.730 EPS.

Wall Street Analysts Forecast Growth

THC has been the topic of a number of research reports. Cantor Fitzgerald upped their price target on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group increased their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James lifted their target price on shares of Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. The Goldman Sachs Group lifted their target price on shares of Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of Tenet Healthcare from $175.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $163.65.

View Our Latest Stock Report on Tenet Healthcare

Tenet Healthcare Stock Up 1.2 %

NYSE THC traded up $1.86 during trading on Friday, hitting $156.88. The stock had a trading volume of 124,563 shares, compared to its average volume of 1,203,910. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.38 and a current ratio of 1.58. The company’s 50-day moving average price is $159.55 and its two-hundred day moving average price is $141.69. Tenet Healthcare has a 12 month low of $52.08 and a 12 month high of $171.20. The company has a market capitalization of $14.92 billion, a PE ratio of 4.97, a P/E/G ratio of 0.72 and a beta of 2.14.

Tenet Healthcare (NYSE:THC – Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the firm earned $1.44 earnings per share. Tenet Healthcare’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts forecast that Tenet Healthcare will post 11.38 EPS for the current year.

Tenet Healthcare declared that its board has authorized a stock repurchase plan on Wednesday, July 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 10.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Tenet Healthcare

In other news, CEO Saumya Sutaria sold 86,227 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the completion of the transaction, the chief executive officer now owns 13,773 shares in the company, valued at $2,126,688.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Richard W. Fisher sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the transaction, the director now owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Saumya Sutaria sold 86,227 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the transaction, the chief executive officer now directly owns 13,773 shares in the company, valued at approximately $2,126,688.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,203 shares of company stock valued at $19,754,997 over the last ninety days. 0.93% of the stock is currently owned by company insiders.

About Tenet Healthcare

(Get Free Report)

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.

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