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Tenet Healthcare (THC) Advances While Market Declines: Some Information for Investors
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Tenet Healthcare (THC - Free Report) ended the recent trading session at $54.66, demonstrating a +0.16% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.17%. Meanwhile, the Dow lost 0.58%, and the Nasdaq, a tech-heavy index, added 0.27%.
Prior to today's trading, shares of the hospital operator had lost 19.43% over the past month. This has lagged the Medical sector's loss of 5.22% and the S&P 500's loss of 3.95% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Tenet Healthcare in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2023. The company's upcoming EPS is projected at $1.19, signifying a 17.36% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $5.02 billion, up 4.49% from the prior-year quarter.
THC's full-year Zacks Consensus Estimates are calling for earnings of $5.78 per share and revenue of $20.29 billion. These results would represent year-over-year changes of -15% and +5.83%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Tenet Healthcare. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Currently, Tenet Healthcare is carrying a Zacks Rank of #3 (Hold).
Investors should also note Tenet Healthcare's current valuation metrics, including its Forward P/E ratio of 9.45. This represents a discount compared to its industry's average Forward P/E of 12.62.
Investors should also note that THC has a PEG ratio of 1.42 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Hospital was holding an average PEG ratio of 1.37 at yesterday's closing price.
The Medical - Hospital industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Tenet Healthcare (THC) Advances While Market Declines: Some Information for Investors
Tenet Healthcare (THC - Free Report) ended the recent trading session at $54.66, demonstrating a +0.16% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.17%. Meanwhile, the Dow lost 0.58%, and the Nasdaq, a tech-heavy index, added 0.27%.
Prior to today's trading, shares of the hospital operator had lost 19.43% over the past month. This has lagged the Medical sector's loss of 5.22% and the S&P 500's loss of 3.95% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Tenet Healthcare in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2023. The company's upcoming EPS is projected at $1.19, signifying a 17.36% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $5.02 billion, up 4.49% from the prior-year quarter.
THC's full-year Zacks Consensus Estimates are calling for earnings of $5.78 per share and revenue of $20.29 billion. These results would represent year-over-year changes of -15% and +5.83%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Tenet Healthcare. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Currently, Tenet Healthcare is carrying a Zacks Rank of #3 (Hold).
Investors should also note Tenet Healthcare's current valuation metrics, including its Forward P/E ratio of 9.45. This represents a discount compared to its industry's average Forward P/E of 12.62.
Investors should also note that THC has a PEG ratio of 1.42 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Hospital was holding an average PEG ratio of 1.37 at yesterday's closing price.
The Medical - Hospital industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.