Community Health Systems (NYSE:CYH) Releases FY 2024 Earnings Guidance

Community Health Systems (NYSE:CYH) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of -0.600–0.500 for the period, compared to the consensus EPS estimate of -0.600. The company issued revenue guidance of $12.5 billion-$12.6 billion, compared to the consensus revenue estimate of $12.6 billion. Community Health Systems also updated its FY24 guidance to $(0.60)-$(0.50) EPS.

Community Health Systems Trading Down 6.6 %

CYH stock traded down $0.28 on Friday, hitting $3.97. The company’s stock had a trading volume of 3,547,010 shares, compared to its average volume of 1,792,988. Community Health Systems has a 1 year low of $2.01 and a 1 year high of $6.29. The stock has a market cap of $551.70 million, a price-to-earnings ratio of -4.21 and a beta of 1.55. The firm has a 50 day moving average of $5.54 and a two-hundred day moving average of $4.34.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the business posted ($0.33) earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities analysts forecast that Community Health Systems will post -0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CYH has been the topic of several analyst reports. Barclays raised their price target on shares of Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Thursday. Wells Fargo & Company raised their price target on shares of Community Health Systems from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Truist Financial decreased their price target on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a research note on Friday. UBS Group raised their price target on shares of Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $6.00 price target on shares of Community Health Systems in a research note on Monday, August 12th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Community Health Systems currently has a consensus rating of “Hold” and a consensus price target of $5.18.

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.