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Here's Why Tenet Healthcare (THC) Fell More Than Broader Market
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In the latest trading session, Tenet Healthcare (THC - Free Report) closed at $188.00, marking a -2.01% move from the previous day. This change lagged the S&P 500's 0.4% loss on the day. On the other hand, the Dow registered a gain of 0.11%, and the technology-centric Nasdaq decreased by 0.73%.
Heading into today, shares of the hospital operator had lost 19.86% over the past month, lagging the Medical sector's loss of 10.07% and the S&P 500's loss of 7.34%.
Market participants will be closely following the financial results of Tenet Healthcare in its upcoming release. The company is forecasted to report an EPS of $4.19, showcasing a 3.9% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $5.39 billion, showing a 3.15% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $17.3 per share and a revenue of $21.99 billion, signifying shifts of +3.1% and +3.21%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Tenet Healthcare. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.37% higher. Tenet Healthcare is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Tenet Healthcare currently has a Forward P/E ratio of 11.09. This signifies no noticeable deviation in comparison to the average Forward P/E of 11.09 for its industry.
It's also important to note that THC currently trades at a PEG ratio of 0.93. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Hospital industry had an average PEG ratio of 0.93 as trading concluded yesterday.
The Medical - Hospital industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 52, placing it within the top 22% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Here's Why Tenet Healthcare (THC) Fell More Than Broader Market
In the latest trading session, Tenet Healthcare (THC - Free Report) closed at $188.00, marking a -2.01% move from the previous day. This change lagged the S&P 500's 0.4% loss on the day. On the other hand, the Dow registered a gain of 0.11%, and the technology-centric Nasdaq decreased by 0.73%.
Heading into today, shares of the hospital operator had lost 19.86% over the past month, lagging the Medical sector's loss of 10.07% and the S&P 500's loss of 7.34%.
Market participants will be closely following the financial results of Tenet Healthcare in its upcoming release. The company is forecasted to report an EPS of $4.19, showcasing a 3.9% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $5.39 billion, showing a 3.15% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $17.3 per share and a revenue of $21.99 billion, signifying shifts of +3.1% and +3.21%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Tenet Healthcare. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.37% higher. Tenet Healthcare is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Tenet Healthcare currently has a Forward P/E ratio of 11.09. This signifies no noticeable deviation in comparison to the average Forward P/E of 11.09 for its industry.
It's also important to note that THC currently trades at a PEG ratio of 0.93. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Hospital industry had an average PEG ratio of 0.93 as trading concluded yesterday.
The Medical - Hospital industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 52, placing it within the top 22% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.