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Why Tenet Healthcare (THC) Outpaced the Stock Market Today
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Tenet Healthcare (THC - Free Report) closed the latest trading day at $83.57, indicating a +0.82% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.76%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 1.12%.
The hospital operator's stock has climbed by 9.69% in the past month, exceeding the Medical sector's gain of 1.57% and the S&P 500's gain of 2.5%.
The investment community will be closely monitoring the performance of Tenet Healthcare in its forthcoming earnings report. The company is scheduled to release its earnings on February 8, 2024. The company's earnings per share (EPS) are projected to be $1.55, reflecting a 20.92% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.25 billion, up 5.2% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Tenet Healthcare. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.67% decrease. Tenet Healthcare is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Tenet Healthcare is currently exchanging hands at a Forward P/E ratio of 14.38. This valuation marks a discount compared to its industry's average Forward P/E of 14.5.
Investors should also note that THC has a PEG ratio of 4.73 right now. 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. Medical - Hospital stocks are, on average, holding a PEG ratio of 1.72 based on yesterday's closing prices.
The Medical - Hospital industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 34, positioning it in the top 14% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow THC in the coming trading sessions, be sure to utilize Zacks.com.
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Why Tenet Healthcare (THC) Outpaced the Stock Market Today
Tenet Healthcare (THC - Free Report) closed the latest trading day at $83.57, indicating a +0.82% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.76%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 1.12%.
The hospital operator's stock has climbed by 9.69% in the past month, exceeding the Medical sector's gain of 1.57% and the S&P 500's gain of 2.5%.
The investment community will be closely monitoring the performance of Tenet Healthcare in its forthcoming earnings report. The company is scheduled to release its earnings on February 8, 2024. The company's earnings per share (EPS) are projected to be $1.55, reflecting a 20.92% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.25 billion, up 5.2% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Tenet Healthcare. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.67% decrease. Tenet Healthcare is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Tenet Healthcare is currently exchanging hands at a Forward P/E ratio of 14.38. This valuation marks a discount compared to its industry's average Forward P/E of 14.5.
Investors should also note that THC has a PEG ratio of 4.73 right now. 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. Medical - Hospital stocks are, on average, holding a PEG ratio of 1.72 based on yesterday's closing prices.
The Medical - Hospital industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 34, positioning it in the top 14% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow THC in the coming trading sessions, be sure to utilize Zacks.com.