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Here's Why Tenet Healthcare (THC) Gained But Lagged the Market Today
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The latest trading session saw Tenet Healthcare (THC - Free Report) ending at $134.39, denoting a +0.49% adjustment from its last day's close. The stock lagged the S&P 500's daily gain of 0.55%. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.63%.
Shares of the hospital operator have depreciated by 4.12% over the course of the past month, underperforming the Medical sector's gain of 0.19% and the S&P 500's gain of 4.28%.
The upcoming earnings release of Tenet Healthcare will be of great interest to investors. The company's earnings report is expected on July 24, 2024. The company's earnings per share (EPS) are projected to be $1.84, reflecting a 27.78% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.98 billion, indicating a 2.03% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.70 per share and a revenue of $20.35 billion, indicating changes of +24.64% and -0.95%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Tenet Healthcare. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 1.59% rise in the Zacks Consensus EPS estimate. Tenet Healthcare is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Tenet Healthcare is holding a Forward P/E ratio of 15.36. This expresses a premium compared to the average Forward P/E of 15.25 of its industry.
It's also important to note that THC currently trades at a PEG ratio of 1.23. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. THC's industry had an average PEG ratio of 1.34 as of yesterday's close.
The Medical - Hospital industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 19, finds itself in the top 8% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Here's Why Tenet Healthcare (THC) Gained But Lagged the Market Today
The latest trading session saw Tenet Healthcare (THC - Free Report) ending at $134.39, denoting a +0.49% adjustment from its last day's close. The stock lagged the S&P 500's daily gain of 0.55%. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.63%.
Shares of the hospital operator have depreciated by 4.12% over the course of the past month, underperforming the Medical sector's gain of 0.19% and the S&P 500's gain of 4.28%.
The upcoming earnings release of Tenet Healthcare will be of great interest to investors. The company's earnings report is expected on July 24, 2024. The company's earnings per share (EPS) are projected to be $1.84, reflecting a 27.78% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.98 billion, indicating a 2.03% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.70 per share and a revenue of $20.35 billion, indicating changes of +24.64% and -0.95%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Tenet Healthcare. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 1.59% rise in the Zacks Consensus EPS estimate. Tenet Healthcare is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Tenet Healthcare is holding a Forward P/E ratio of 15.36. This expresses a premium compared to the average Forward P/E of 15.25 of its industry.
It's also important to note that THC currently trades at a PEG ratio of 1.23. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. THC's industry had an average PEG ratio of 1.34 as of yesterday's close.
The Medical - Hospital industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 19, finds itself in the top 8% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.