Community Health Systems (NYSE:CYH) Posts Quarterly Earnings Results

Community Health Systems (NYSE:CYH) announced its quarterly earnings results on Wednesday. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.14), Briefing.com reports. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm earned ($0.33) EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Community Health Systems updated its FY24 guidance to $(0.60)-$(0.50) EPS and its FY 2024 guidance to -0.600–0.500 EPS.

Community Health Systems Price Performance

Community Health Systems stock traded down $1.14 during midday trading on Thursday, reaching $4.41. The stock had a trading volume of 838,174 shares, compared to its average volume of 1,748,073. The firm’s fifty day simple moving average is $5.55 and its two-hundred day simple moving average is $4.34. Community Health Systems has a twelve month low of $2.01 and a twelve month high of $6.29. The firm has a market cap of $612.84 million, a price-to-earnings ratio of -4.71 and a beta of 1.55.

Analyst Ratings Changes

CYH has been the topic of a number of research analyst reports. 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 note on Thursday, July 25th. Truist Financial raised their target price on shares of Community Health Systems from $3.75 to $4.25 and gave the stock a “hold” rating in a report on Monday, July 15th. Barclays raised their target price on shares of Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday. UBS Group raised their target price on shares of Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Finally, Wells Fargo & Company raised their target price on shares of Community Health Systems from $3.50 to $5.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.06.

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.