Yahoo Finance Tenet Healthcare (THC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Tenet Healthcare (THC) closed at $134.93, marking a -0.81% move from the previous day. This move lagged the S&P 500's daily gain of 0.09%. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq added 0.16%.
The hospital operator's stock has climbed by 3.74% in the past month, exceeding the Medical sector's gain of 2.3% and the S&P 500's gain of 2.83%.
The investment community will be closely monitoring the performance of Tenet Healthcare in its forthcoming earnings report. The company is scheduled to release its earnings on July 24, 2024. The company is forecasted to report an EPS of $1.77, showcasing a 22.92% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.98 billion, down 2.03% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.55 per share and a revenue of $20.34 billion, representing changes of +22.49% and -1.04%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tenet Healthcare. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.54% rise in the Zacks Consensus EPS estimate. Tenet Healthcare presently features 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 15.9. This signifies a discount in comparison to the average Forward P/E of 16.11 for its industry.
It is also worth noting that THC currently has a PEG ratio of 1.4. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Medical - Hospital industry held an average PEG ratio of 1.49.
The Medical - Hospital industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 17, positioning it in the top 7% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Tenet Healthcare Corporation (THC) : Free Stock Analysis Report
