We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tenet Healthcare (THC) Ascends While Market Falls: Some Facts to Note
Read MoreHide Full Article
The most recent trading session ended with Tenet Healthcare (THC - Free Report) standing at $133.27, reflecting a +1.15% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.71% loss on the day. On the other hand, the Dow registered a loss of 0.93%, and the technology-centric Nasdaq decreased by 0.81%.
Prior to today's trading, shares of the hospital operator had lost 2.57% over the past month. This has lagged the Medical sector's loss of 0.16% and the S&P 500's gain of 1.08% in that time.
Market participants will be closely following the financial results of Tenet Healthcare in its upcoming release. The company plans to announce its earnings on July 24, 2024. The company is forecasted to report an EPS of $1.89, showcasing a 31.25% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.98 billion, down 2.03% from the year-ago period.
THC's full-year Zacks Consensus Estimates are calling for earnings of $8.87 per share and revenue of $20.35 billion. These results would represent year-over-year changes of +27.08% and -0.95%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.51% increase. Tenet Healthcare is holding a Zacks Rank of #2 (Buy) right now.
Looking at valuation, Tenet Healthcare is presently trading at a Forward P/E ratio of 14.85. This indicates a discount in contrast to its industry's Forward P/E of 15.1.
Investors should also note that THC has a PEG ratio of 1.19 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Medical - Hospital industry stood at 1.32 at the close of the market yesterday.
The Medical - Hospital industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 18, 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Tenet Healthcare (THC) Ascends While Market Falls: Some Facts to Note
The most recent trading session ended with Tenet Healthcare (THC - Free Report) standing at $133.27, reflecting a +1.15% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.71% loss on the day. On the other hand, the Dow registered a loss of 0.93%, and the technology-centric Nasdaq decreased by 0.81%.
Prior to today's trading, shares of the hospital operator had lost 2.57% over the past month. This has lagged the Medical sector's loss of 0.16% and the S&P 500's gain of 1.08% in that time.
Market participants will be closely following the financial results of Tenet Healthcare in its upcoming release. The company plans to announce its earnings on July 24, 2024. The company is forecasted to report an EPS of $1.89, showcasing a 31.25% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.98 billion, down 2.03% from the year-ago period.
THC's full-year Zacks Consensus Estimates are calling for earnings of $8.87 per share and revenue of $20.35 billion. These results would represent year-over-year changes of +27.08% and -0.95%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.51% increase. Tenet Healthcare is holding a Zacks Rank of #2 (Buy) right now.
Looking at valuation, Tenet Healthcare is presently trading at a Forward P/E ratio of 14.85. This indicates a discount in contrast to its industry's Forward P/E of 15.1.
Investors should also note that THC has a PEG ratio of 1.19 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Medical - Hospital industry stood at 1.32 at the close of the market yesterday.
The Medical - Hospital industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 18, 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.