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Tenet Healthcare (THC) Stock Declines While Market Improves: Some Information for Investors
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The latest trading session saw Tenet Healthcare (THC - Free Report) ending at $169.89, denoting a -1.13% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.01%. Elsewhere, the Dow saw a downswing of 0.22%, while the tech-heavy Nasdaq appreciated by 0.32%.
Shares of the hospital operator have appreciated by 13.44% over the course of the past month, outperforming the Medical sector's loss of 2.72% and the S&P 500's gain of 5.2%.
The investment community will be paying close attention to the earnings performance of Tenet Healthcare in its upcoming release. The company's earnings per share (EPS) are projected to be $2.84, reflecting a 22.94% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.15 billion, indicating a 0.85% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $12.69 per share and revenue of $20.9 billion. These totals would mark changes of +6.82% and +1.12%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Tenet Healthcare. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.27% higher. As of now, Tenet Healthcare holds a Zacks Rank of #2 (Buy).
In terms of valuation, Tenet Healthcare is presently being traded at a Forward P/E ratio of 13.55. This represents a premium compared to its industry's average Forward P/E of 11.65.
It is also worth noting that THC currently has a PEG ratio of 1.26. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Medical - Hospital industry had an average PEG ratio of 1.29.
The Medical - Hospital industry is part of the Medical sector. This group has a Zacks Industry Rank of 55, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Tenet Healthcare (THC) Stock Declines While Market Improves: Some Information for Investors
The latest trading session saw Tenet Healthcare (THC - Free Report) ending at $169.89, denoting a -1.13% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.01%. Elsewhere, the Dow saw a downswing of 0.22%, while the tech-heavy Nasdaq appreciated by 0.32%.
Shares of the hospital operator have appreciated by 13.44% over the course of the past month, outperforming the Medical sector's loss of 2.72% and the S&P 500's gain of 5.2%.
The investment community will be paying close attention to the earnings performance of Tenet Healthcare in its upcoming release. The company's earnings per share (EPS) are projected to be $2.84, reflecting a 22.94% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.15 billion, indicating a 0.85% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $12.69 per share and revenue of $20.9 billion. These totals would mark changes of +6.82% and +1.12%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Tenet Healthcare. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.27% higher. As of now, Tenet Healthcare holds a Zacks Rank of #2 (Buy).
In terms of valuation, Tenet Healthcare is presently being traded at a Forward P/E ratio of 13.55. This represents a premium compared to its industry's average Forward P/E of 11.65.
It is also worth noting that THC currently has a PEG ratio of 1.26. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Medical - Hospital industry had an average PEG ratio of 1.29.
The Medical - Hospital industry is part of the Medical sector. This group has a Zacks Industry Rank of 55, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.