$3.16 Billion in Sales Expected for Community Health Systems (NYSE:CYH) This Quarter

Equities analysts expect Community Health Systems (NYSE:CYH) to report sales of $3.16 billion for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Community Health Systems’ earnings. The highest sales estimate is $3.23 billion and the lowest is $3.09 billion. Community Health Systems posted sales of $3.45 billion in the same quarter last year, which suggests a negative year over year growth rate of 8.4%. The business is expected to issue its next quarterly earnings report on Monday, November 4th.

According to Zacks, analysts expect that Community Health Systems will report full-year sales of $13.05 billion for the current fiscal year, with estimates ranging from $12.95 billion to $13.19 billion. For the next year, analysts expect that the firm will post sales of $13.11 billion, with estimates ranging from $12.76 billion to $13.50 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Community Health Systems.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.05. The firm had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.20 billion. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) EPS.

Several equities analysts have issued reports on CYH shares. Royal Bank of Canada restated a “hold” rating and set a $5.00 target price on shares of Community Health Systems in a research note on Thursday, August 8th. ValuEngine upgraded shares of Community Health Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Finally, Piper Jaffray Companies set a $3.00 target price on shares of Community Health Systems and gave the company a “sell” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $3.68.

CYH traded up $0.01 during midday trading on Friday, hitting $4.06. 69,896 shares of the company traded hands, compared to its average volume of 2,248,679. The firm has a market capitalization of $472.79 million, a PE ratio of -2.10 and a beta of 2.37. The company’s 50-day moving average is $3.21 and its 200 day moving average is $2.97. Community Health Systems has a 52 week low of $1.79 and a 52 week high of $5.35.

In other Community Health Systems news, EVP Benjamin C. Fordham purchased 25,000 shares of Community Health Systems stock in a transaction dated Thursday, August 8th. The stock was purchased at an average price of $2.29 per share, with a total value of $57,250.00. Following the transaction, the executive vice president now directly owns 159,416 shares of the company’s stock, valued at $365,062.64. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Wayne T. Smith purchased 1,200,000 shares of Community Health Systems stock in a transaction dated Thursday, August 29th. The shares were acquired at an average cost of $1.99 per share, with a total value of $2,388,000.00. Following the transaction, the chief executive officer now directly owns 3,132,082 shares in the company, valued at $6,232,843.18. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,250,000 shares of company stock worth $2,491,500 in the last 90 days. Company insiders own 4.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AEGON USA Investment Management LLC increased its holdings in Community Health Systems by 59.0% in the 2nd quarter. AEGON USA Investment Management LLC now owns 180,269 shares of the company’s stock worth $481,000 after acquiring an additional 66,922 shares in the last quarter. TB Alternative Assets Ltd. purchased a new stake in Community Health Systems in the 2nd quarter worth approximately $321,000. Thoroughbred Financial Services LLC increased its holdings in Community Health Systems by 240.2% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 74,466 shares of the company’s stock worth $7,447,000 after acquiring an additional 52,576 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Community Health Systems in the 2nd quarter worth approximately $61,000. Finally, Creative Planning purchased a new stake in Community Health Systems in the 2nd quarter worth approximately $147,000. 96.49% of the stock is owned by hedge funds and other institutional investors.

Community Health Systems Company Profile

Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company 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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Earnings History and Estimates for Community Health Systems (NYSE:CYH)

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