FY2024 Earnings Forecast for THC Issued By Zacks Research

Tenet Healthcare Co. (NYSE:THC - Free Report) - Investment analysts at Zacks Research issued their FY2024 earnings estimates for Tenet Healthcare in a research report issued on Tuesday, November 12th. Zacks Research analyst R. Department expects that the company will earn $11.34 per share for the year. The consensus estimate for Tenet Healthcare's current full-year earnings is $11.38 per share. Zacks Research also issued estimates for Tenet Healthcare's Q4 2024 earnings at $2.88 EPS, Q1 2025 earnings at $2.94 EPS, Q2 2025 earnings at $2.67 EPS, Q3 2025 earnings at $2.71 EPS, Q4 2025 earnings at $3.21 EPS, FY2025 earnings at $11.53 EPS, Q1 2026 earnings at $3.46 EPS, Q2 2026 earnings at $3.21 EPS, Q3 2026 earnings at $3.02 EPS and FY2026 earnings at $13.45 EPS.

Several other equities analysts have also recently weighed in on THC. UBS Group increased their price target on Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Truist Financial restated a "buy" rating and set a $190.00 price target (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. Royal Bank of Canada increased their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of Tenet Healthcare from $195.00 to $205.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group raised their target price on Tenet Healthcare from $173.00 to $196.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $170.38.

Tenet Healthcare Stock Performance

Shares of THC traded down $7.31 during mid-day trading on Friday, hitting $155.34. 1,573,677 shares of the company traded hands, compared to its average volume of 1,218,194. Tenet Healthcare has a 1 year low of $57.65 and a 1 year high of $171.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The stock has a 50-day moving average price of $159.54 and a two-hundred day moving average price of $146.36. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 5.21, a P/E/G ratio of 0.73 and a beta of 2.15.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping analysts' consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the company earned $1.44 EPS. The company's quarterly revenue was up 1.1% compared to the same quarter last year.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors and hedge funds have recently modified their holdings of the business. Legacy Capital Group California Inc. bought a new position in Tenet Healthcare in the third quarter worth approximately $1,055,000. Diversified Trust Co bought a new stake in Tenet Healthcare during the 2nd quarter valued at $558,000. O Shaughnessy Asset Management LLC increased its holdings in shares of Tenet Healthcare by 31.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 28,171 shares of the company's stock valued at $2,961,000 after acquiring an additional 6,687 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Tenet Healthcare during the 1st quarter worth $537,000. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Tenet Healthcare by 124.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,787 shares of the company's stock valued at $1,701,000 after buying an additional 7,078 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the sale, the director now directly owns 14,227 shares of the company's stock, valued at $2,328,533.09. The trade was a 12.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider R. Scott Ramsey sold 11,599 shares of Tenet Healthcare stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the transaction, the insider now directly owns 6,324 shares of the company's stock, valued at $1,024,867.44. The trade was a 64.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,599 shares of company stock valued at $2,830,834. Insiders own 0.93% of the company's stock.

Tenet Healthcare announced that its board has authorized a stock repurchase program on Wednesday, July 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 10.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.