Tenet Healthcare (NYSE:THC) Releases Q4 2024 Earnings Guidance

Tenet Healthcare (NYSE:THC) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.690-3.310 for the period, compared to the consensus earnings per share estimate of 2.880. The company issued revenue guidance of $5.0 billion-$5.2 billion, compared to the consensus revenue estimate of $5.3 billion. Tenet Healthcare also updated its FY 2024 guidance to 11.120-11.730 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on THC shares. Cantor Fitzgerald upped their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday. Truist Financial reissued a “buy” rating and issued a $190.00 price objective (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday. Wells Fargo & Company increased their target price on shares of Tenet Healthcare from $175.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. KeyCorp began coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price target on the stock. Finally, Raymond James boosted their target price on shares of Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $163.65.

Tenet Healthcare Trading Down 1.4 %

Shares of Tenet Healthcare stock traded down $2.22 during midday trading on Thursday, reaching $155.86. 762,570 shares of the company’s stock traded hands, compared to its average volume of 1,207,360. The company has a market cap of $14.93 billion, a PE ratio of 5.80, a price-to-earnings-growth ratio of 0.71 and a beta of 2.14. The stock has a 50 day moving average of $159.66 and a 200-day moving average of $141.59. Tenet Healthcare has a 12 month low of $51.04 and a 12 month high of $171.20. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.38 and a current ratio of 1.45.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the business posted $1.44 earnings per share. Tenet Healthcare’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts expect that Tenet Healthcare will post 10.72 EPS for the current fiscal year.

Tenet Healthcare declared that its Board of Directors has authorized a share buyback plan on Wednesday, July 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to buy up to 10.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Director Richard W. Fisher sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the completion of the transaction, the director now owns 14,227 shares of the company’s stock, valued at $2,328,533.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Richard W. Fisher sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the completion of the sale, the director now owns 14,227 shares of the company’s stock, valued at $2,328,533.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meghan Fitzgerald sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total value of $2,926,800.00. Following the completion of the transaction, the director now directly owns 15,269 shares in the company, valued at $2,234,465.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,203 shares of company stock worth $19,754,997. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.