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

Community Health Systems (NYSE:CYH) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of -0.450–0.300 for the period, compared to the consensus earnings per share estimate of -0.310. The company issued revenue guidance of $12.5 billion-$12.7 billion, compared to the consensus revenue estimate of $12.5 billion.

Community Health Systems Stock Up 9.9 %

NYSE:CYH traded up $0.43 during trading hours on Thursday, hitting $4.76. 3,897,119 shares of the stock were exchanged, compared to its average volume of 1,884,437. The company’s 50 day moving average is $3.59 and its two-hundred day moving average is $3.42. Community Health Systems has a twelve month low of $2.01 and a twelve month high of $5.20. The company has a market capitalization of $661.50 million, a P/E ratio of -4.93 and a beta of 1.52.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, July 24th. The company reported ($0.17) earnings per share (EPS) 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 analysts’ expectations of $3.10 billion. During the same quarter last year, the company posted ($0.22) earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts expect that Community Health Systems will post -0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on CYH shares. Truist Financial upped their target price on shares of Community Health Systems from $3.75 to $4.25 and gave the company a hold rating in a research report on Monday, July 15th. Oppenheimer upped their target price on shares of Community Health Systems from $4.50 to $5.00 and gave the company an outperform rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $4.25.

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.