Tenet Healthcare Corp (THC) Received $31.21 Consensus Target Price from Brokerages

Tenet Healthcare Corp (THC) Received $31.21 Consensus Target Price from Brokerages

Shares of Tenet Healthcare Corp (NYSE:THC) have earned an average rating of “Hold” from the nineteen ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.21.

Several equities analysts have recently issued reports on the stock. Stephens assumed coverage on shares of Tenet Healthcare in a research note on Monday. They set an “equal weight” rating for the company. Zacks Investment Research downgraded shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Robert W. Baird reissued a “buy” rating and set a $35.00 target price on shares of Tenet Healthcare in a research note on Wednesday, November 7th. UBS Group initiated coverage on shares of Tenet Healthcare in a research note on Thursday, November 15th. They set a “neutral” rating and a $26.00 target price for the company. Finally, ValuEngine raised shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a research note on Tuesday, November 27th.

Shares of NYSE:THC opened at $21.69 on Friday. The company has a market capitalization of $2.15 billion, a P/E ratio of 26.78, a P/E/G ratio of 0.58 and a beta of 1.34. The company has a quick ratio of 0.99, a current ratio of 1.06 and a debt-to-equity ratio of 21.55. Tenet Healthcare has a one year low of $15.40 and a one year high of $39.74.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Monday, November 5th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.18. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.37 billion. Tenet Healthcare had a negative net margin of 0.61% and a positive return on equity of 47.38%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.17) EPS. On average, research analysts forecast that Tenet Healthcare will post 1.61 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its holdings in Tenet Healthcare by 3.9% during the third quarter. Arizona State Retirement System now owns 58,893 shares of the company’s stock worth $1,676,000 after purchasing an additional 2,212 shares during the last quarter. United Services Automobile Association raised its position in Tenet Healthcare by 16.3% in the third quarter. United Services Automobile Association now owns 15,884 shares of the company’s stock worth $452,000 after acquiring an additional 2,227 shares during the period. Strs Ohio raised its position in Tenet Healthcare by 5.4% in the third quarter. Strs Ohio now owns 44,700 shares of the company’s stock worth $1,272,000 after acquiring an additional 2,300 shares during the period. Swiss National Bank raised its position in Tenet Healthcare by 1.4% in the third quarter. Swiss National Bank now owns 178,000 shares of the company’s stock worth $5,066,000 after acquiring an additional 2,400 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its position in Tenet Healthcare by 5.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 48,312 shares of the company’s stock worth $1,622,000 after acquiring an additional 2,470 shares during the period.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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