Yahoo Finance Tenet Healthcare (THC) Advances While Market Declines: Some Information for Investors
Tenet Healthcare (THC) ended the recent trading session at $136.03, demonstrating a +1.33% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.31% for the day. Meanwhile, the Dow gained 0.67%, and the Nasdaq, a tech-heavy index, lost 1.09%.
The the stock of hospital operator has risen by 2.38% in the past month, leading the Medical sector's gain of 0.61% and undershooting the S&P 500's gain of 2.73%.
The investment community will be paying close attention to the earnings performance of Tenet Healthcare in its upcoming release. The company is slated to reveal its earnings on July 24, 2024. It is anticipated that the company will report an EPS of $1.83, marking a 27.08% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.98 billion, down 2.03% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $8.74 per share and a revenue of $20.34 billion, demonstrating changes of +25.21% and -1.04%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Tenet Healthcare. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.14% higher. As of now, Tenet Healthcare holds a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Tenet Healthcare is at present trading with a Forward P/E ratio of 15.35. For comparison, its industry has an average Forward P/E of 15.78, which means Tenet Healthcare is trading at a discount to the group.
Also, we should mention that THC has a PEG ratio of 1.36. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Hospital industry currently had an average PEG ratio of 1.47 as of yesterday's close.
The Medical - Hospital industry is part of the Medical sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow THC in the coming trading sessions, be sure to utilize Zacks.com.
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Tenet Healthcare Corporation (THC) : Free Stock Analysis Report
