Community Health Systems (NYSE:CYH) Issues FY24 Earnings Guidance

Community Health Systems (NYSE:CYH) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $(0.60)-$(0.50) for the period, compared to the consensus EPS estimate of ($0.38). The company issued revenue guidance of $12.45-12.55 billion, compared to the consensus revenue estimate of $12.60 billion. Community Health Systems also updated its FY 2024 guidance to -0.600–0.500 EPS.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CYH shares. Oppenheimer raised their price target on shares of Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company raised their price target on shares of Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Barclays raised their price target on shares of Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a report on Thursday. Truist Financial dropped 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 report on Friday. Finally, UBS Group raised their price target on shares of Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.18.

Community Health Systems Trading Down 6.1 %

CYH opened at $3.99 on Friday. The company has a market cap of $554.47 million, a price-to-earnings ratio of -4.20 and a beta of 1.55. The company’s 50 day moving average is $5.52 and its 200 day moving average is $4.35. Community Health Systems has a 12-month low of $2.01 and a 12-month high of $6.29.

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

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.