Community Health Systems (NYSE:CYH - Get Free Report) announced its earnings results on Wednesday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.14), Briefing.com reports. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.08 billion. During the same period in the prior year, the firm earned ($0.33) earnings per share. The firm's revenue for the quarter was up .1% on a year-over-year basis. Community Health Systems updated its FY24 guidance to $(0.60)-$(0.50) EPS and its FY 2024 guidance to -0.600--0.500 EPS.
Community Health Systems Trading Down 23.4 %
CYH stock traded down $1.30 during midday trading on Thursday, hitting $4.25. The stock had a trading volume of 8,332,031 shares, compared to its average volume of 1,784,442. The stock has a 50-day simple moving average of $5.55 and a 200 day simple moving average of $4.34. Community Health Systems has a 52 week low of $2.01 and a 52 week high of $6.29. The firm has a market capitalization of $590.61 million, a price-to-earnings ratio of -4.71 and a beta of 1.55.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on CYH. Royal Bank of Canada reissued an "outperform" rating and issued a $6.00 price objective on shares of Community Health Systems in a research report on Monday, August 12th. Truist Financial increased their price objective on Community Health Systems from $3.75 to $4.25 and gave the company a "hold" rating in a research report on Monday, July 15th. Oppenheimer increased their price objective on Community Health Systems from $4.50 to $5.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. UBS Group increased their price objective on Community Health Systems from $4.70 to $5.10 and gave the company a "neutral" rating in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company raised their target price on Community Health Systems from $3.50 to $5.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Community Health Systems presently has an average rating of "Hold" and an average price target of $5.06.
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About Community Health Systems
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Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.
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