Community Health Systems (NYSE:CYH) Releases FY24 Earnings Guidance

Community Health Systems (NYSE:CYH) issued an update on its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $(0.60)-$(0.50) for the period, compared to the consensus EPS estimate of ($0.38). The company issued revenue guidance of $12.45-12.55 billion, compared to the consensus revenue estimate of $12.60 billion. Community Health Systems also updated its FY 2024 guidance to -0.600–0.500 EPS.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CYH shares. UBS Group increased their price objective on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Truist Financial lifted their target price on shares of Community Health Systems from $3.75 to $4.25 and gave the company a “hold” rating in a report on Monday, July 15th. Wells Fargo & Company upped their price target on shares of Community Health Systems from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Oppenheimer lifted their target price on Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $6.00 price objective on shares of Community Health Systems in a report on Monday, August 12th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.73.

Community Health Systems Trading Up 1.1 %

Community Health Systems stock traded up $0.06 during midday trading on Wednesday, hitting $5.55. The stock had a trading volume of 1,967,339 shares, compared to its average volume of 1,752,464. Community Health Systems has a 52-week low of $2.01 and a 52-week high of $6.29. The firm’s fifty day moving average is $5.54 and its two-hundred day moving average is $4.33. The company has a market capitalization of $771.26 million, a PE ratio of -5.82 and a beta of 1.55.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Wednesday, July 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.05). The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Community Health Systems’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.22) EPS. As a group, equities research analysts predict that Community Health Systems will post -0.41 earnings per share for the current fiscal year.

About Community Health Systems

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.