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Tenet Healthcare (THC) Stock Sinks As Market Gains: What You Should Know
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In the latest market close, Tenet Healthcare (THC - Free Report) reached $81.40, with a -0.94% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.22%. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.32%.
Heading into today, shares of the hospital operator had gained 8.48% over the past month, outpacing the Medical sector's gain of 2.3% and the S&P 500's gain of 1.61% in that time.
The investment community will be paying close attention to the earnings performance of Tenet Healthcare in its upcoming release. The company is slated to reveal its earnings on February 8, 2024. The company is expected to report EPS of $1.54, down 21.43% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.23 billion, up 4.85% from the year-ago period.
Any recent changes to analyst estimates for Tenet Healthcare should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Tenet Healthcare boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Tenet Healthcare is presently being traded at a Forward P/E ratio of 14.16. This valuation marks a discount compared to its industry's average Forward P/E of 14.73.
Also, we should mention that THC has a PEG ratio of 4.66. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Medical - Hospital industry stood at 1.76 at the close of the market yesterday.
The Medical - Hospital industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 33, finds itself in the top 14% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Tenet Healthcare (THC) Stock Sinks As Market Gains: What You Should Know
In the latest market close, Tenet Healthcare (THC - Free Report) reached $81.40, with a -0.94% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.22%. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.32%.
Heading into today, shares of the hospital operator had gained 8.48% over the past month, outpacing the Medical sector's gain of 2.3% and the S&P 500's gain of 1.61% in that time.
The investment community will be paying close attention to the earnings performance of Tenet Healthcare in its upcoming release. The company is slated to reveal its earnings on February 8, 2024. The company is expected to report EPS of $1.54, down 21.43% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.23 billion, up 4.85% from the year-ago period.
Any recent changes to analyst estimates for Tenet Healthcare should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Tenet Healthcare boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Tenet Healthcare is presently being traded at a Forward P/E ratio of 14.16. This valuation marks a discount compared to its industry's average Forward P/E of 14.73.
Also, we should mention that THC has a PEG ratio of 4.66. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Medical - Hospital industry stood at 1.76 at the close of the market yesterday.
The Medical - Hospital industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 33, finds itself in the top 14% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.