Earnings results for Tenet Healthcare (NYSE:THC)
Tenet Healthcare Corporation is expected* to report earnings on 07/21/2021 after market close. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 7 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.09. The reported EPS for the same quarter last year was $1.26.
Tenet Healthcare last released its earnings results on April 19th, 2021. The reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.50. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.73 billion. Its revenue was up 5.8% compared to the same quarter last year. Tenet Healthcare has generated $4.73 earnings per share over the last year and currently has a price-to-earnings ratio of 18.9. Tenet Healthcare has confirmed that its next quarterly earnings report will be published on Wednesday, July 21st, 2021. Tenet Healthcare will be holding an earnings conference call on Thursday, July 22nd at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link.
Analyst Opinion on Tenet Healthcare (NYSE:THC)
14 Wall Street analysts have issued ratings and price targets for Tenet Healthcare in the last 12 months. Their average twelve-month price target is $56.13, predicting that the stock has a possible downside of 20.41%. The high price target for THC is $80.00 and the low price target for THC is $20.00. There are currently 1 sell rating, 2 hold ratings and 11 buy ratings for the stock, resulting in a consensus rating of “Buy.”
Tenet Healthcare has received a consensus rating of Buy. The company’s average rating score is 2.71, and is based on 11 buy ratings, 2 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $56.13, Tenet Healthcare has a forecasted downside of 20.4% from its current price of $70.52. Tenet Healthcare has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.
Dividend Strength: Tenet Healthcare (NYSE:THC)
Tenet Healthcare does not currently pay a dividend. Tenet Healthcare does not have a long track record of dividend growth.
Insiders buying/selling: Tenet Healthcare (NYSE:THC)
In the past three months, Tenet Healthcare insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $8,698,359.00 in company stock. Only 1.60% of the stock of Tenet Healthcare is held by insiders. 90.27% of the stock of Tenet Healthcare is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Tenet Healthcare (NYSE:THC
Earnings for Tenet Healthcare are expected to grow by 6.33% in the coming year, from $5.21 to $5.54 per share. The P/E ratio of Tenet Healthcare is 18.91, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 20.45. The P/E ratio of Tenet Healthcare is 18.91, which means that it is trading at a less expensive P/E ratio than the Medical sector average P/E ratio of about 32.10. Tenet Healthcare has a P/B Ratio of 7.94. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.
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