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Tenet Healthcare (THC) Advances But Underperforms Market: Key Facts
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The most recent trading session ended with Tenet Healthcare (THC - Free Report) standing at $54.13, reflecting a +0.07% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.06% gain on the day. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 1.2%.
Coming into today, shares of the hospital operator had lost 22.49% in the past month. In that same time, the Medical sector lost 3.74%, while the S&P 500 lost 3%.
Market participants will be closely following the financial results of Tenet Healthcare in its upcoming release. The company plans to announce its earnings on October 30, 2023. In that report, analysts expect Tenet Healthcare to post earnings of $1.19 per share. This would mark a year-over-year decline of 17.36%. Meanwhile, our latest consensus estimate is calling for revenue of $5.02 billion, up 4.54% from the prior-year quarter.
THC's full-year Zacks Consensus Estimates are calling for earnings of $5.73 per share and revenue of $20.29 billion. These results would represent year-over-year changes of -15.74% and +5.84%, respectively.
It is also important to note the recent changes to analyst estimates for Tenet Healthcare. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Tenet Healthcare is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Tenet Healthcare has a Forward P/E ratio of 9.44 right now. This represents a discount compared to its industry's average Forward P/E of 12.48.
It's also important to note that THC currently trades at a PEG ratio of 1.42. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Medical - Hospital industry held an average PEG ratio of 1.37.
The Medical - Hospital industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Tenet Healthcare (THC) Advances But Underperforms Market: Key Facts
The most recent trading session ended with Tenet Healthcare (THC - Free Report) standing at $54.13, reflecting a +0.07% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.06% gain on the day. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 1.2%.
Coming into today, shares of the hospital operator had lost 22.49% in the past month. In that same time, the Medical sector lost 3.74%, while the S&P 500 lost 3%.
Market participants will be closely following the financial results of Tenet Healthcare in its upcoming release. The company plans to announce its earnings on October 30, 2023. In that report, analysts expect Tenet Healthcare to post earnings of $1.19 per share. This would mark a year-over-year decline of 17.36%. Meanwhile, our latest consensus estimate is calling for revenue of $5.02 billion, up 4.54% from the prior-year quarter.
THC's full-year Zacks Consensus Estimates are calling for earnings of $5.73 per share and revenue of $20.29 billion. These results would represent year-over-year changes of -15.74% and +5.84%, respectively.
It is also important to note the recent changes to analyst estimates for Tenet Healthcare. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Tenet Healthcare is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Tenet Healthcare has a Forward P/E ratio of 9.44 right now. This represents a discount compared to its industry's average Forward P/E of 12.48.
It's also important to note that THC currently trades at a PEG ratio of 1.42. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Medical - Hospital industry held an average PEG ratio of 1.37.
The Medical - Hospital industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.