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

Community Health Systems (NYSE:CYH) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $(0.60)-$(0.50) for the period, compared to the consensus earnings per share 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.

Community Health Systems Stock Up 1.1 %

Community Health Systems stock traded up $0.06 during midday trading on Wednesday, hitting $5.55. 1,967,339 shares of the stock were exchanged, compared to its average volume of 1,752,464. The stock has a market capitalization of $771.26 million, a price-to-earnings ratio of -5.82 and a beta of 1.55. Community Health Systems has a 52-week low of $2.01 and a 52-week high of $6.29. The business’s 50-day moving average price is $5.54 and its 200-day moving average price is $4.33.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings results on Wednesday, July 24th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the firm earned ($0.22) earnings per share. The company’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts predict that Community Health Systems will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on CYH. Royal Bank of Canada restated an “outperform” rating and set a $6.00 price target on shares of Community Health Systems in a research report on Monday, August 12th. Oppenheimer upped their price objective on Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. UBS Group raised their target price on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Wells Fargo & Company upped their price target on Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Truist Financial lifted their price objective on Community Health Systems from $3.75 to $4.25 and gave the stock a “hold” rating in a report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Community Health Systems presently has a consensus rating of “Hold” and a consensus price target of $4.73.

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.