Analysts Set Expectations for Tenet Healthcare Corp’s Q3 2018 Earnings (THC)

Tenet Healthcare Corp (NYSE:THC) – Equities researchers at SunTrust Banks issued their Q3 2018 earnings per share estimates for shares of Tenet Healthcare Corp in a research report issued on Tuesday, Zacks Investment Research reports. SunTrust Banks analyst D. Macdonald forecasts that the company will post earnings of $0.24 per share for the quarter. SunTrust Banks also issued estimates for Tenet Healthcare Corp’s Q4 2018 earnings at $0.90 EPS and FY2019 earnings at $1.70 EPS.

Several other analysts also recently issued reports on the stock. Deutsche Bank AG started coverage on shares of Tenet Healthcare Corp in a research note on Tuesday, April 4th. They set a “buy” rating and a $28.00 target price on the stock. Zacks Investment Research downgraded shares of Tenet Healthcare Corp from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 9th. Mizuho dropped their price target on shares of Tenet Healthcare Corp from $22.50 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, March 27th. Leerink Swann reaffirmed a “market perform” rating and issued a $22.00 price target on shares of Tenet Healthcare Corp in a research note on Tuesday, January 24th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Tenet Healthcare Corp in a research note on Thursday, April 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Tenet Healthcare Corp presently has a consensus rating of “Hold” and a consensus price target of $26.92.

Earnings History and Estimates for Tenet Healthcare Corp (NYSE:THC)

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Tenet Healthcare Corp (NYSE:THC) traded up 2.40% during trading on Thursday, reaching $15.35. The company had a trading volume of 3,214,887 shares. Tenet Healthcare Corp has a 52-week low of $14.06 and a 52-week high of $34.08. The company has a 50-day moving average of $17.86 and a 200-day moving average of $18.11. The firm’s market capitalization is $1.53 billion.

Tenet Healthcare Corp (NYSE:THC) last released its quarterly earnings data on Monday, February 27th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.22 by $0.16. Tenet Healthcare Corp had a negative net margin of 1.04% and a positive return on equity of 12.75%. The firm earned $4.86 billion during the quarter, compared to analysts’ expectations of $4.95 billion. During the same period in the previous year, the business earned $0.35 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis.

A number of large investors have recently modified their holdings of the company. BlackRock Investment Management LLC boosted its stake in shares of Tenet Healthcare Corp by 42.2% in the third quarter. BlackRock Investment Management LLC now owns 795,716 shares of the company’s stock worth $18,031,000 after buying an additional 236,147 shares in the last quarter. BlackRock Advisors LLC boosted its stake in shares of Tenet Healthcare Corp by 86.2% in the third quarter. BlackRock Advisors LLC now owns 4,567,713 shares of the company’s stock worth $103,504,000 after buying an additional 2,114,791 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Tenet Healthcare Corp by 337.5% in the third quarter. JPMorgan Chase & Co. now owns 525,913 shares of the company’s stock worth $11,918,000 after buying an additional 405,702 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Tenet Healthcare Corp by 4.4% in the third quarter. UBS Asset Management Americas Inc. now owns 127,040 shares of the company’s stock worth $2,879,000 after buying an additional 5,344 shares in the last quarter. Finally, KBC Group NV acquired a new stake in shares of Tenet Healthcare Corp during the third quarter worth about $1,740,000.

Tenet Healthcare Corp Company Profile

Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.

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