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Tenet Healthcare (THC) Beats Stock Market Upswing: What Investors Need to Know
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Tenet Healthcare (THC - Free Report) closed the most recent trading day at $102.18, moving +1.46% from the previous trading session. This change outpaced the S&P 500's 1.11% gain on the day. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%.
Heading into today, shares of the hospital operator had gained 2.6% over the past month, outpacing the Medical sector's loss of 2.46% and the S&P 500's gain of 0.48% in that time.
Investors will be eagerly watching for the performance of Tenet Healthcare in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. The company's upcoming EPS is projected at $1.41, signifying a 0.7% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $5.12 billion, up 1.87% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.09 per share and a revenue of $20.14 billion, indicating changes of -12.75% and -2%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Tenet Healthcare. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Tenet Healthcare is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Tenet Healthcare is currently being traded at a Forward P/E ratio of 16.54. This indicates a premium in contrast to its industry's Forward P/E of 16.21.
We can also see that THC currently has a PEG ratio of 3.16. 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. As the market closed yesterday, the Medical - Hospital industry was having an average PEG ratio of 1.92.
The Medical - Hospital industry is part of the Medical sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Tenet Healthcare (THC) Beats Stock Market Upswing: What Investors Need to Know
Tenet Healthcare (THC - Free Report) closed the most recent trading day at $102.18, moving +1.46% from the previous trading session. This change outpaced the S&P 500's 1.11% gain on the day. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%.
Heading into today, shares of the hospital operator had gained 2.6% over the past month, outpacing the Medical sector's loss of 2.46% and the S&P 500's gain of 0.48% in that time.
Investors will be eagerly watching for the performance of Tenet Healthcare in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. The company's upcoming EPS is projected at $1.41, signifying a 0.7% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $5.12 billion, up 1.87% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.09 per share and a revenue of $20.14 billion, indicating changes of -12.75% and -2%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Tenet Healthcare. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Tenet Healthcare is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Tenet Healthcare is currently being traded at a Forward P/E ratio of 16.54. This indicates a premium in contrast to its industry's Forward P/E of 16.21.
We can also see that THC currently has a PEG ratio of 3.16. 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. As the market closed yesterday, the Medical - Hospital industry was having an average PEG ratio of 1.92.
The Medical - Hospital industry is part of the Medical sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.