Community Health Systems, Inc. (NYSE:CYH) released its quarterly earnings data on Tuesday, August 1st. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of $0.06 by $0.31, Bloomberg Earnings reports. Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. The company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same period last year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. Community Health Systems updated its FY17 guidance to ($0.30)-$0.40 EPS.
Community Health Systems (NYSE CYH) traded up 2.78% during trading on Friday, reaching $7.03. The company had a trading volume of 3,125,647 shares. Community Health Systems has a 12-month low of $4.15 and a 12-month high of $13.28. The firm has a 50-day moving average price of $8.14 and a 200 day moving average price of $8.65. The stock’s market cap is $786.90 million.
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In related news, major shareholder Tian Qiao Chen acquired 9,766,897 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was acquired at an average price of $7.27 per share, with a total value of $71,005,341.19. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.60% of the stock is currently owned by corporate insiders.
Several research analysts have commented on CYH shares. Vetr raised Community Health Systems from a “hold” rating to a “buy” rating and set a $8.62 price objective on the stock in a research report on Monday, April 24th. Zacks Investment Research lowered Community Health Systems from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 3rd. Morgan Stanley initiated coverage on Community Health Systems in a research report on Tuesday, June 6th. They issued an “underweight” rating and a $9.50 price objective on the stock. BidaskClub upgraded Community Health Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Piper Jaffray Companies restated a “sell” rating and set a $9.00 target price on shares of Community Health Systems in a research note on Wednesday, July 26th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. Community Health Systems presently has a consensus rating of “Hold” and an average target price of $7.96.
About Community Health Systems
Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.
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