Yahoo Finance Tenet Healthcare (THC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Tenet Healthcare (THC) closed at $129.27, marking a -1.92% move from the previous day. This change lagged the S&P 500's daily gain of 0.1%. At the same time, the Dow lost 0.08%, and the tech-heavy Nasdaq gained 0.28%.
Coming into today, shares of the hospital operator had lost 1.44% in the past month. In that same time, the Medical sector lost 0.44%, while the S&P 500 gained 4.08%.
Market participants will be closely following the financial results of Tenet Healthcare in its upcoming release. The company plans to announce its earnings on July 24, 2024. It is anticipated that the company will report an EPS of $1.84, marking a 27.78% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.98 billion, reflecting a 2.03% fall from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.70 per share and revenue of $20.34 billion. These totals would mark changes of +24.64% and -1.04%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tenet Healthcare. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.59% increase. Currently, Tenet Healthcare is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Tenet Healthcare is currently exchanging hands at a Forward P/E ratio of 15.14. Its industry sports an average Forward P/E of 15.21, so one might conclude that Tenet Healthcare is trading at a discount comparatively.
We can also see that THC currently has a PEG ratio of 1.21. 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 1.41 as trading concluded yesterday.
The Medical - Hospital industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 27, placing it within the top 11% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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Tenet Healthcare Corporation (THC) : Free Stock Analysis Report
