Community Health Systems (NYSE:CYH) Announces Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Community Health Systems (NYSE:CYH) issued its earnings results on Wednesday. The company reported ($0.30) 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 for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the business earned ($0.33) earnings per share. Community Health Systems’s revenue for the quarter was up .1% compared to the same quarter last year. 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 Stock Down 23.1 %

NYSE CYH traded down $1.28 during trading on Thursday, hitting $4.27. The stock had a trading volume of 3,737,364 shares, compared to its average volume of 1,761,169. The company has a market capitalization of $593.38 million, a PE ratio of -4.71 and a beta of 1.55. The firm has a 50 day moving average price of $5.55 and a 200 day moving average price of $4.34. Community Health Systems has a twelve month low of $2.01 and a twelve month high of $6.29.

Wall Street Analysts Forecast Growth

CYH has been the topic of a number of recent analyst reports. Truist Financial upped their price objective on 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 Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. UBS Group raised their price objective on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $6.00 target price on shares of Community Health Systems in a research report on Monday, August 12th. Finally, Oppenheimer lifted their price target on shares of Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Community Health Systems has an average rating of “Hold” and a consensus target price of $5.06.

Community Health Systems Company Profile

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.