Brokers Offer Predictions for Community Health Systems, Inc.'s Q1 2023 Earnings (NYSE:CYH)

20 February, 2023 badas 0 Comments 1 category

Community Health Systems, Inc. (NYSE:CYH – Get Rating) – Equities research analysts at Oppenheimer lowered their Q1 2023 EPS estimates for Community Health Systems in a research note issued to investors on Wednesday, February 15th. Oppenheimer analyst M. Wiederhorn now forecasts that the company will post earnings per share of ($0.15) for the quarter, down from their previous forecast of ($0.10). Oppenheimer has an “Outperform” rating and a $5.50 price objective on the stock. The consensus estimate for Community Health Systems’ current full-year earnings is ($0.46) per share. Oppenheimer also issued estimates for Community Health Systems’ Q2 2023 earnings at ($0.16) EPS, Q3 2023 earnings at ($0.30) EPS, Q4 2023 earnings at $0.09 EPS, FY2023 earnings at ($0.52) EPS, Q2 2024 earnings at $0.08 EPS, Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $0.50 EPS and FY2025 earnings at $1.03 EPS.

Community Health Systems (NYSE:CYH – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $1.09. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.16 billion. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 earnings per share.

Want More Great Investment Ideas?

A number of other analysts also recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Community Health Systems from $3.00 to $4.50 and gave the company an “equal weight” rating in a report on Tuesday, January 3rd. Credit Suisse Group raised their price objective on Community Health Systems from $3.30 to $8.50 in a research note on Friday. Truist Financial upped their target price on Community Health Systems from $4.75 to $8.00 in a research report on Friday. Finally, StockNews.com raised Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday. Five equity research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.14.

Community Health Systems Stock Performance

Shares of Community Health Systems stock opened at $7.94 on Monday. Community Health Systems has a 52-week low of $1.88 and a 52-week high of $12.51. The stock has a market cap of $1.07 billion, a PE ratio of 24.06 and a beta of 1.78. The firm has a 50-day moving average of $4.67 and a 200-day moving average of $3.53.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Community Health Systems by 0.5% during the 1st quarter. BlackRock Inc. now owns 19,414,591 shares of the company’s stock worth $230,450,000 after purchasing an additional 93,270 shares in the last quarter. Vanguard Group Inc. grew its position in Community Health Systems by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 10,407,148 shares of the company’s stock worth $123,532,000 after acquiring an additional 198,080 shares during the last quarter. Morgan Stanley increased its holdings in Community Health Systems by 364.7% in the 4th quarter. Morgan Stanley now owns 8,824,501 shares of the company’s stock worth $38,122,000 after purchasing an additional 6,925,737 shares in the last quarter. State Street Corp raised its position in Community Health Systems by 11.1% in the third quarter. State Street Corp now owns 4,978,894 shares of the company’s stock valued at $10,705,000 after purchasing an additional 497,696 shares during the last quarter. Finally, DG Capital Management LLC grew its holdings in shares of Community Health Systems by 13.5% during the second quarter. DG Capital Management LLC now owns 3,693,594 shares of the company’s stock worth $13,851,000 after purchasing an additional 440,725 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Community Health Systems Company Profile

(Get Rating)

Community Health Systems, Inc is engaged 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.