Community Health Systems (NYSE:CYH) Releases Earnings Results, Beats Estimates By $0.05 EPS

Community Health Systems (NYSE:CYH) announced its earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05, Briefing.com reports. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Community Health Systems had a negative net margin of 1.07% and a negative return on equity of 5.51%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.43) EPS. Community Health Systems updated its FY 2024 guidance to -0.650–0.050 EPS.

Community Health Systems Stock Up 5.9 %

Shares of NYSE:CYH traded up $0.18 on Thursday, hitting $3.21. 2,105,486 shares of the company traded hands, compared to its average volume of 2,054,861. The stock has a 50 day simple moving average of $3.09 and a 200-day simple moving average of $3.05. Community Health Systems has a 52 week low of $2.01 and a 52 week high of $6.53. The company has a market cap of $446.13 million, a PE ratio of -3.12 and a beta of 1.52.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CYH. Barclays assumed coverage on Community Health Systems in a report on Wednesday, March 6th. They set an “equal weight” rating and a $3.00 price objective on the stock. Oppenheimer reduced their price objective on shares of Community Health Systems from $5.50 to $4.50 and set an “outperform” rating on the stock in a research note on Thursday. Finally, StockNews.com upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Community Health Systems presently has an average rating of “Hold” and a consensus target price of $4.00.

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.