Community Health Systems, Inc. (NYSE:CYH) Receives Average Rating of “Hold” from Brokerages

Shares of Community Health Systems, Inc. (NYSE:CYH) have received a consensus rating of “Hold” from the five brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $4.65.

A number of equities analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Community Health Systems from $3.75 to $4.25 and gave the stock a “hold” rating in a research note on Monday, July 15th. Wells Fargo & Company raised their price objective on Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Oppenheimer boosted their target price on shares of Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th.

Community Health Systems Stock Performance

Community Health Systems stock opened at $4.70 on Friday. The company has a market capitalization of $653.14 million, a PE ratio of -4.95 and a beta of 1.52. The company has a 50 day moving average price of $3.86 and a 200-day moving average price of $3.52. Community Health Systems has a fifty-two week low of $2.01 and a fifty-two week high of $5.48.

Community Health Systems (NYSE:CYH) last issued its earnings results on Wednesday, July 24th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.05). The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.10 billion. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company earned ($0.22) EPS. On average, analysts forecast that Community Health Systems will post -0.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CYH. Acadian Asset Management LLC purchased a new position in Community Health Systems during the second quarter valued at $871,000. nVerses Capital LLC purchased a new position in Community Health Systems in the 2nd quarter valued at about $25,000. Financial Advocates Investment Management acquired a new stake in Community Health Systems in the 2nd quarter worth about $116,000. Allspring Global Investments Holdings LLC increased its stake in Community Health Systems by 412.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 24,702 shares of the company’s stock worth $83,000 after buying an additional 19,886 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Community Health Systems by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 687,804 shares of the company’s stock valued at $2,311,000 after acquiring an additional 20,150 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

About Community Health Systems

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.