Community Health Systems (NYSE:CYH) Updates FY 2024 Earnings Guidance

Community Health Systems (NYSE:CYH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of -0.600–0.500 for the period, compared to the consensus earnings per share estimate of -0.600. The company issued revenue guidance of $12.5 billion-$12.6 billion, compared to the consensus revenue estimate of $12.6 billion. Community Health Systems also updated its FY24 guidance to $(0.60)-$(0.50) EPS.

Analyst Ratings Changes

Several brokerages recently weighed in on CYH. Oppenheimer raised their price objective on shares of Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and set a $6.00 target price on shares of Community Health Systems in a research report on Monday, August 12th. UBS Group upped their price target on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Wells Fargo & Company raised their price objective on Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Truist Financial upped their target price on Community Health Systems from $3.75 to $4.25 and gave the stock a “hold” rating in a research report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.73.

Community Health Systems Stock Performance

Shares of NYSE:CYH traded up $0.06 on Wednesday, hitting $5.55. The stock had a trading volume of 1,967,339 shares, compared to its average volume of 1,752,464. The company has a market capitalization of $771.26 million, a price-to-earnings ratio of -5.82 and a beta of 1.55. The firm’s 50 day moving average price is $5.54 and its 200-day moving average price is $4.33. Community Health Systems has a twelve month low of $2.01 and a twelve month high of $6.29.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Wednesday, July 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.05). The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period last year, the firm posted ($0.22) EPS. The business’s revenue was up .8% on a year-over-year basis. As a group, sell-side analysts predict that Community Health Systems will post -0.41 EPS for the current year.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.