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

Community Health Systems (NYSE:CYH) issued its quarterly earnings results on Wednesday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14), Briefing.com reports. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.08 billion. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.33) EPS. 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 23.1 %

Shares of Community Health Systems stock traded down $1.28 on Thursday, hitting $4.27. 3,737,364 shares of the company were exchanged, compared to its average volume of 1,761,169. The company has a 50-day moving average price of $5.55 and a 200 day moving average price of $4.34. The stock has a market capitalization of $593.38 million, a price-to-earnings ratio of -4.71 and a beta of 1.55. Community Health Systems has a 1-year low of $2.01 and a 1-year high of $6.29.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CYH. Wells Fargo & Company increased their target price 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. Royal Bank of Canada reissued an “outperform” rating and set a $6.00 target price on shares of Community Health Systems in a research note on Monday, August 12th. Truist Financial raised their price target on shares of Community Health Systems from $3.75 to $4.25 and gave the company a “hold” rating in a research note on Monday, July 15th. UBS Group boosted their price objective on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Finally, Oppenheimer raised their target price on Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Community Health Systems has an average rating of “Hold” and a consensus price target of $5.06.

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.