Community Health Systems (NYSE:CYH) Posts Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Community Health Systems (NYSE:CYH) posted its quarterly earnings data on Wednesday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.14), Briefing.com reports. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the company earned ($0.33) earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Community Health Systems updated its FY24 guidance to $(0.60)-$(0.50) EPS and its FY 2024 guidance to -0.600–0.500 EPS.

Community Health Systems Stock Down 6.1 %

Shares of Community Health Systems stock traded down $0.26 on Friday, hitting $3.99. The stock had a trading volume of 5,166,339 shares, compared to its average volume of 1,800,804. The stock’s 50-day simple moving average is $5.52 and its two-hundred day simple moving average is $4.35. Community Health Systems has a one year low of $2.01 and a one year high of $6.29. The stock has a market cap of $554.47 million, a price-to-earnings ratio of -4.20 and a beta of 1.55.

Analyst Ratings Changes

Several research firms recently weighed in on CYH. Royal Bank of Canada restated an “outperform” rating and issued a $6.00 price objective on shares of Community Health Systems in a research report on Monday, August 12th. Barclays lifted their price objective on shares of Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday. Truist Financial dropped their price target on Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a research note on Friday. Oppenheimer upped their target price on Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, UBS Group boosted their price objective on shares of Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Community Health Systems has a consensus rating of “Hold” and an average price target of $5.18.

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.