Community Health Systems (NYSE:CYH) Stock Rating Lowered by Wells Fargo & Company

Wells Fargo & Company downgraded shares of Community Health Systems (NYSE:CYH) from an equal weight rating to an underweight rating in a research report report published on Monday morning, MarketBeat.com reports. Wells Fargo & Company currently has $2.50 target price on the stock, down from their previous target price of $5.00.

A number of other brokerages have also recently issued reports on CYH. Barclays upped their target price on Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $6.00 price target on shares of Community Health Systems in a research note on Monday, August 12th. Truist Financial decreased their price objective on Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a report on Friday, October 25th. UBS Group upped their price target on Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Finally, Raymond James lowered shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.77.

Community Health Systems Stock Up 1.4 %

Shares of CYH stock opened at $3.70 on Monday. Community Health Systems has a twelve month low of $2.31 and a twelve month high of $6.29. The business has a fifty day simple moving average of $4.98 and a 200 day simple moving average of $4.51. The company has a market cap of $514.12 million, a P/E ratio of -1.23 and a beta of 1.60.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.33) earnings per share. As a group, equities research analysts anticipate that Community Health Systems will post -0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Community Health Systems

A number of hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC acquired a new position in shares of Community Health Systems during the third quarter worth approximately $33,000. nVerses Capital LLC bought a new position in shares of Community Health Systems in the second quarter valued at $25,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Community Health Systems during the second quarter valued at about $33,000. CWM LLC increased its position in shares of Community Health Systems by 32.1% during the third quarter. CWM LLC now owns 12,191 shares of the company’s stock worth $74,000 after acquiring an additional 2,961 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Community Health Systems in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

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.