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Tenet Healthcare (THC) Rises Higher Than Market: Key Facts
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Tenet Healthcare (THC - Free Report) ended the recent trading session at $203.41, demonstrating a +1.53% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 1.15%. Elsewhere, the Dow saw an upswing of 1.38%, while the tech-heavy Nasdaq appreciated by 1.38%.
Shares of the hospital operator have depreciated by 12.85% over the course of the past month, underperforming the Medical sector's loss of 8.2%, and the S&P 500's loss of 5.69%.
The investment community will be closely monitoring the performance of Tenet Healthcare in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $4.19, reflecting a 3.9% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.39 billion, up 3.15% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $17.3 per share and revenue of $21.99 billion, indicating changes of +3.1% and +3.21%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tenet Healthcare. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.01% upward. Currently, Tenet Healthcare is carrying a Zacks Rank of #3 (Hold).
Investors should also note Tenet Healthcare's current valuation metrics, including its Forward P/E ratio of 11.58. This signifies no noticeable deviation in comparison to the average Forward P/E of 11.58 for its industry.
Also, we should mention that THC has a PEG ratio of 0.97. 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 0.97.
The Medical - Hospital industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 57, finds itself in the top 24% 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.
To follow THC in the coming trading sessions, be sure to utilize Zacks.com.
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Tenet Healthcare (THC) Rises Higher Than Market: Key Facts
Tenet Healthcare (THC - Free Report) ended the recent trading session at $203.41, demonstrating a +1.53% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 1.15%. Elsewhere, the Dow saw an upswing of 1.38%, while the tech-heavy Nasdaq appreciated by 1.38%.
Shares of the hospital operator have depreciated by 12.85% over the course of the past month, underperforming the Medical sector's loss of 8.2%, and the S&P 500's loss of 5.69%.
The investment community will be closely monitoring the performance of Tenet Healthcare in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $4.19, reflecting a 3.9% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.39 billion, up 3.15% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $17.3 per share and revenue of $21.99 billion, indicating changes of +3.1% and +3.21%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tenet Healthcare. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.01% upward. Currently, Tenet Healthcare is carrying a Zacks Rank of #3 (Hold).
Investors should also note Tenet Healthcare's current valuation metrics, including its Forward P/E ratio of 11.58. This signifies no noticeable deviation in comparison to the average Forward P/E of 11.58 for its industry.
Also, we should mention that THC has a PEG ratio of 0.97. 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 0.97.
The Medical - Hospital industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 57, finds itself in the top 24% 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.
To follow THC in the coming trading sessions, be sure to utilize Zacks.com.