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Tenet Healthcare (THC) Stock Sinks As Market Gains: What You Should Know
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Tenet Healthcare (THC - Free Report) ended the recent trading session at $135.77, demonstrating a -1.44% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.27%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.88%.
Coming into today, shares of the hospital operator had gained 9.23% in the past month. In that same time, the Medical sector gained 2.89%, while the S&P 500 gained 2.85%.
The investment community will be closely monitoring the performance of Tenet Healthcare in its forthcoming earnings report. The company's upcoming EPS is projected at $1.83, signifying a 27.08% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.98 billion, showing a 2.03% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.76 per share and a revenue of $20.34 billion, representing changes of +25.5% and -1.04%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Tenet Healthcare. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.27% higher. Tenet Healthcare presently features a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Tenet Healthcare is currently exchanging hands at a Forward P/E ratio of 15.73. This represents a discount compared to its industry's average Forward P/E of 16.02.
One should further note that THC currently holds a PEG ratio of 1.42. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. THC's industry had an average PEG ratio of 1.5 as of yesterday's close.
The Medical - Hospital industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 26, positioning it in the top 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Tenet Healthcare (THC) Stock Sinks As Market Gains: What You Should Know
Tenet Healthcare (THC - Free Report) ended the recent trading session at $135.77, demonstrating a -1.44% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.27%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.88%.
Coming into today, shares of the hospital operator had gained 9.23% in the past month. In that same time, the Medical sector gained 2.89%, while the S&P 500 gained 2.85%.
The investment community will be closely monitoring the performance of Tenet Healthcare in its forthcoming earnings report. The company's upcoming EPS is projected at $1.83, signifying a 27.08% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.98 billion, showing a 2.03% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.76 per share and a revenue of $20.34 billion, representing changes of +25.5% and -1.04%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Tenet Healthcare. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.27% higher. Tenet Healthcare presently features a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Tenet Healthcare is currently exchanging hands at a Forward P/E ratio of 15.73. This represents a discount compared to its industry's average Forward P/E of 16.02.
One should further note that THC currently holds a PEG ratio of 1.42. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. THC's industry had an average PEG ratio of 1.5 as of yesterday's close.
The Medical - Hospital industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 26, positioning it in the top 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.