FY2024 Earnings Forecast for THC Issued By Zacks Research

Tenet Healthcare Co. (NYSE:THC) – Analysts at Zacks Research issued their FY2024 earnings estimates for Tenet Healthcare in a note issued to investors on Tuesday, November 12th. Zacks Research analyst R. Department forecasts that the company will earn $11.34 per share for the year. The consensus estimate for Tenet Healthcare’s current full-year earnings is $11.38 per share. Zacks Research also issued estimates for Tenet Healthcare’s Q4 2024 earnings at $2.88 EPS, Q1 2025 earnings at $2.94 EPS, Q2 2025 earnings at $2.67 EPS, Q3 2025 earnings at $2.71 EPS, Q4 2025 earnings at $3.21 EPS, FY2025 earnings at $11.53 EPS, Q1 2026 earnings at $3.46 EPS, Q2 2026 earnings at $3.21 EPS, Q3 2026 earnings at $3.02 EPS and FY2026 earnings at $13.45 EPS.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share.

Other analysts have also issued research reports about the stock. KeyCorp initiated coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They issued an “overweight” rating and a $200.00 price objective on the stock. Barclays boosted their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Cantor Fitzgerald lifted their price target on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Buy” and a consensus price target of $170.38.

Tenet Healthcare Stock Down 4.5 %

Tenet Healthcare stock opened at $155.34 on Friday. Tenet Healthcare has a fifty-two week low of $57.65 and a fifty-two week high of $171.20. The company has a market cap of $14.77 billion, a PE ratio of 4.98, a PEG ratio of 0.73 and a beta of 2.15. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The business’s 50-day simple moving average is $159.57 and its two-hundred day simple moving average is $147.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare during the 3rd quarter worth $28,000. ORG Wealth Partners LLC acquired a new position in Tenet Healthcare during the third quarter worth about $30,000. Financial Management Professionals Inc. lifted its position in shares of Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after acquiring an additional 200 shares during the period. Innealta Capital LLC purchased a new stake in shares of Tenet Healthcare during the 2nd quarter worth approximately $28,000. Finally, True Wealth Design LLC acquired a new stake in shares of Tenet Healthcare in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares of the company’s stock, valued at $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 2,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the transaction, the director now directly owns 14,227 shares of the company’s stock, valued at $2,328,533.09. This represents a 12.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,599 shares of company stock worth $2,830,834. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare announced that its board has approved a share buyback program on Wednesday, July 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.