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Community Health Systems, Inc. (NYSE:CYH – Get Rating) – Investment analysts at Jefferies Financial Group issued their Q1 2023 earnings estimates for shares of Community Health Systems in a research report issued to clients and investors on Thursday, February 16th. Jefferies Financial Group analyst B. Tanquilut expects that the company will post earnings of ($0.38) per share for the quarter. The consensus estimate for Community Health Systems’ current full-year earnings is ($0.46) per share. Jefferies Financial Group also issued estimates for Community Health Systems’ Q4 2023 earnings at $0.56 EPS and FY2023 earnings at ($0.38) EPS.
Community Health Systems (NYSE:CYH – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $0.41 by $1.09. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.16 billion. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 earnings per share.
A number of other research firms have also issued reports on CYH. StockNews.com upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a report on Friday. Wells Fargo & Company lifted their target price on Community Health Systems from $3.00 to $4.50 and gave the company an “equal weight” rating in a report on Tuesday, January 3rd. Credit Suisse Group boosted their price objective on Community Health Systems from $3.30 to $8.50 in a research report on Friday. Oppenheimer increased their target price on Community Health Systems from $5.00 to $5.50 and gave the company an “outperform” rating in a report on Thursday, January 19th. Finally, Truist Financial upped their price target on Community Health Systems from $4.75 to $8.00 in a report on Friday. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.14.
Community Health Systems Stock Performance
NYSE CYH opened at $7.94 on Monday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 24.06 and a beta of 1.78. The firm has a 50 day simple moving average of $4.67 and a 200-day simple moving average of $3.53. Community Health Systems has a one year low of $1.88 and a one year high of $12.51.
Hedge Funds Weigh In On Community Health Systems
A number of large investors have recently made changes to their positions in the stock. Citigroup Inc. grew its position in Community Health Systems by 10.8% during the first quarter. Citigroup Inc. now owns 106,728 shares of the company’s stock worth $1,267,000 after buying an additional 10,384 shares during the period. MetLife Investment Management LLC increased its stake in Community Health Systems by 53.3% in the 1st quarter. MetLife Investment Management LLC now owns 69,279 shares of the company’s stock valued at $822,000 after purchasing an additional 24,099 shares in the last quarter. Rhumbline Advisers raised its holdings in Community Health Systems by 4.5% during the first quarter. Rhumbline Advisers now owns 238,443 shares of the company’s stock worth $2,830,000 after purchasing an additional 10,302 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Community Health Systems by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 107,056 shares of the company’s stock worth $1,271,000 after purchasing an additional 13,199 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Community Health Systems by 0.5% in the first quarter. BlackRock Inc. now owns 19,414,591 shares of the company’s stock valued at $230,450,000 after purchasing an additional 93,270 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.
Community Health Systems Company Profile
Community Health Systems, Inc engages in the management and operations of hospitals. It operates general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services. The company was founded in March 1985 and is headquartered in Franklin, TN.
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