Community Health Systems (NYSE:CYH) Trading Down 6.3% – What’s Next?

Shares of Community Health Systems, Inc. (NYSE:CYH) dropped 6.3% during mid-day trading on Wednesday . The stock traded as low as $3.60 and last traded at $3.68. Approximately 313,773 shares were traded during trading, a decline of 87% from the average daily volume of 2,458,883 shares. The stock had previously closed at $3.92.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company cut Community Health Systems from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $5.00 to $2.50 in a research note on Monday, November 25th. UBS Group decreased their price target on shares of Community Health Systems from $4.80 to $4.10 and set a “neutral” rating for the company in a report on Thursday, February 20th. Truist Financial cut their target price on shares of Community Health Systems from $5.00 to $3.50 and set a “hold” rating on the stock in a report on Monday, January 6th. Raymond James cut Community Health Systems from a “market perform” rating to an “underperform” rating in a research report on Friday, November 22nd. Finally, Barclays lowered their price objective on Community Health Systems from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Community Health Systems presently has an average rating of “Hold” and an average target price of $4.18.

Community Health Systems Trading Down 9.3 %

The firm has a 50-day moving average price of $3.23 and a 200-day moving average price of $4.25. The company has a market capitalization of $493.87 million, a price-to-earnings ratio of -0.91 and a beta of 1.63.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.51). The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.14 billion. Equities research analysts predict that Community Health Systems, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Community Health Systems

Several large investors have recently modified their holdings of CYH. Tower Research Capital LLC TRC increased its stake in Community Health Systems by 250.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,023 shares of the company’s stock worth $27,000 after purchasing an additional 6,445 shares in the last quarter. Signaturefd LLC purchased a new position in Community Health Systems during the 3rd quarter worth approximately $33,000. Two Sigma Securities LLC purchased a new stake in shares of Community Health Systems in the fourth quarter valued at $33,000. Cibc World Markets Corp acquired a new position in Community Health Systems during the fourth quarter valued at $35,000. Finally, Virtu Financial LLC acquired a new stake in Community Health Systems during the 4th quarter worth about $38,000. 84.99% of the stock is owned by institutional investors.

Community Health Systems Company Profile

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.