Community Health Systems (NYSE:CYH) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Community Health Systems (NYSE:CYH) posted its quarterly earnings data on Wednesday. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.05), Briefing.com reports. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.10 billion. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted ($0.22) earnings per share. Community Health Systems updated its FY 2024 guidance to -0.450–0.300 EPS.

Community Health Systems Trading Up 9.9 %

Shares of Community Health Systems stock traded up $0.43 during midday trading on Thursday, reaching $4.76. The company had a trading volume of 3,888,206 shares, compared to its average volume of 1,884,437. The company has a market capitalization of $661.50 million, a price-to-earnings ratio of -5.01 and a beta of 1.52. The stock has a fifty day simple moving average of $3.61 and a 200 day simple moving average of $3.43. Community Health Systems has a 1-year low of $2.01 and a 1-year high of $5.20.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Oppenheimer raised their price objective on shares of Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial raised their price objective on shares of Community Health Systems from $3.75 to $4.25 and gave the stock a “hold” rating in a report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.25.

Community Health Systems Company Profile

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.