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Tenet Healthcare (THC) Surpasses Market Returns: Some Facts Worth Knowing
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Tenet Healthcare (THC - Free Report) closed at $166.20 in the latest trading session, marking a +1.83% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.42%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, added 0.38%.
Prior to today's trading, shares of the hospital operator had lost 1.58% over the past month. This has was narrower than the Medical sector's loss of 2.49% and lagged the S&P 500's gain of 2.06% in that time.
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 $2.33, signifying a 61.81% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.05 billion, reflecting a 0.41% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $10.72 per share and a revenue of $20.84 billion, demonstrating changes of +53.58% and +1.4%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Tenet Healthcare. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.2% upward. Tenet Healthcare is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Tenet Healthcare is currently trading at a Forward P/E ratio of 15.23. This indicates a discount in contrast to its industry's Forward P/E of 16.6.
Meanwhile, THC's PEG ratio is currently 0.83. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Medical - Hospital stocks are, on average, holding a PEG ratio of 1.17 based on yesterday's closing prices.
The Medical - Hospital industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 3, positioning it in the top 2% 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.
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) Surpasses Market Returns: Some Facts Worth Knowing
Tenet Healthcare (THC - Free Report) closed at $166.20 in the latest trading session, marking a +1.83% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.42%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, added 0.38%.
Prior to today's trading, shares of the hospital operator had lost 1.58% over the past month. This has was narrower than the Medical sector's loss of 2.49% and lagged the S&P 500's gain of 2.06% in that time.
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 $2.33, signifying a 61.81% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.05 billion, reflecting a 0.41% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $10.72 per share and a revenue of $20.84 billion, demonstrating changes of +53.58% and +1.4%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Tenet Healthcare. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.2% upward. Tenet Healthcare is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Tenet Healthcare is currently trading at a Forward P/E ratio of 15.23. This indicates a discount in contrast to its industry's Forward P/E of 16.6.
Meanwhile, THC's PEG ratio is currently 0.83. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Medical - Hospital stocks are, on average, holding a PEG ratio of 1.17 based on yesterday's closing prices.
The Medical - Hospital industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 3, positioning it in the top 2% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.