Tenet Healthcare (NYSE:THC) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.73-1.06 for the period, compared to the Thomson Reuters consensus estimate of $1.07. The company issued revenue guidance of $4.6-4.8 billion, compared to the consensus revenue estimate of $4.88 billion.Tenet Healthcare also updated its FY 2021 guidance to $5.230-$5.730 EPS.
Shares of THC traded down $3.31 during mid-day trading on Thursday, hitting $68.94. The company’s stock had a trading volume of 84,796 shares, compared to its average volume of 910,219. The company has a 50-day moving average price of $66.97. Tenet Healthcare has a 52-week low of $21.34 and a 52-week high of $73.65. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 19.37 and a beta of 2.61. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 14.86.
Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, July 20th. The company reported $1.59 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.52. Tenet Healthcare had a net margin of 2.25% and a return on equity of 65.38%. The company had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. Tenet Healthcare’s revenue for the quarter was up 35.8% compared to the same quarter last year. Research analysts expect that Tenet Healthcare will post 5.21 EPS for the current year.
In other news, insider R. Scott Ramsey sold 8,662 shares of the business’s stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of $64.04, for a total transaction of $554,714.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Howard Hacker sold 6,382 shares of the business’s stock in a transaction that occurred on Friday, May 28th. The stock was sold at an average price of $66.70, for a total transaction of $425,679.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,197 shares of company stock valued at $1,371,540. Company insiders own 1.60% of the company’s stock.
Tenet Healthcare Company Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
See Also: Bar Chart
Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.