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Tenet Healthcare (THC) Stock Sinks As Market Gains: What You Should Know
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Tenet Healthcare (THC - Free Report) closed at $166.33 in the latest trading session, marking a -1.01% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.25% for the day. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.56%.
Coming into today, shares of the hospital operator had gained 2.66% in the past month. In that same time, the Medical sector lost 1.51%, while the S&P 500 gained 1.65%.
The investment community will be closely monitoring the performance of Tenet Healthcare in its forthcoming earnings report. In that report, analysts expect Tenet Healthcare to post earnings of $2.33 per share. This would mark year-over-year growth of 61.81%. In the meantime, our current consensus estimate forecasts the revenue to be $5.05 billion, indicating a 0.41% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $10.72 per share and a revenue of $20.84 billion, demonstrating changes of +53.58% and +1.4%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tenet Healthcare. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.14% rise in the Zacks Consensus EPS estimate. Tenet Healthcare is holding a Zacks Rank of #1 (Strong Buy) right now.
From a valuation perspective, Tenet Healthcare is currently exchanging hands at a Forward P/E ratio of 15.68. For comparison, its industry has an average Forward P/E of 16.88, which means Tenet Healthcare is trading at a discount to the group.
Also, we should mention that THC has a PEG ratio of 0.86. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Hospital industry had an average PEG ratio of 1.19 as trading concluded yesterday.
The Medical - Hospital industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Tenet Healthcare (THC) Stock Sinks As Market Gains: What You Should Know
Tenet Healthcare (THC - Free Report) closed at $166.33 in the latest trading session, marking a -1.01% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.25% for the day. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.56%.
Coming into today, shares of the hospital operator had gained 2.66% in the past month. In that same time, the Medical sector lost 1.51%, while the S&P 500 gained 1.65%.
The investment community will be closely monitoring the performance of Tenet Healthcare in its forthcoming earnings report. In that report, analysts expect Tenet Healthcare to post earnings of $2.33 per share. This would mark year-over-year growth of 61.81%. In the meantime, our current consensus estimate forecasts the revenue to be $5.05 billion, indicating a 0.41% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $10.72 per share and a revenue of $20.84 billion, demonstrating changes of +53.58% and +1.4%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tenet Healthcare. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.14% rise in the Zacks Consensus EPS estimate. Tenet Healthcare is holding a Zacks Rank of #1 (Strong Buy) right now.
From a valuation perspective, Tenet Healthcare is currently exchanging hands at a Forward P/E ratio of 15.68. For comparison, its industry has an average Forward P/E of 16.88, which means Tenet Healthcare is trading at a discount to the group.
Also, we should mention that THC has a PEG ratio of 0.86. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Hospital industry had an average PEG ratio of 1.19 as trading concluded yesterday.
The Medical - Hospital industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.