Community Health Systems (NYSE:CYH) Issues FY 2024 Earnings Guidance

by · The Markets Daily

Community Health Systems (NYSE:CYH – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of -0.600–0.500 for the period, compared to the consensus earnings per share estimate of -0.600. The company issued revenue guidance of $12.5 billion-$12.6 billion, compared to the consensus revenue estimate of $12.6 billion. Community Health Systems also updated its FY24 guidance to $(0.60)-$(0.50) EPS.

Community Health Systems Stock Performance

Shares of NYSE CYH traded up $0.06 during midday trading on Wednesday, hitting $5.55. 1,967,339 shares of the company traded hands, compared to its average volume of 1,752,464. Community Health Systems has a 12-month low of $2.01 and a 12-month high of $6.29. The stock has a 50-day moving average price of $5.54 and a 200 day moving average price of $4.33. The firm has a market cap of $771.26 million, a P/E ratio of -5.82 and a beta of 1.55.

Community Health Systems (NYSE:CYH – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.10 billion. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.22) EPS. As a group, equities analysts expect that Community Health Systems will post -0.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CYH. UBS Group increased their price objective on shares of Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Wells Fargo & Company increased their price target on shares of Community Health Systems from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $6.00 price target on shares of Community Health Systems in a research report on Monday, August 12th. Oppenheimer increased their price target on shares of Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Truist Financial increased their price target on shares of Community Health Systems from $3.75 to $4.25 and gave the stock a “hold” rating in a research report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.73.

Read Our Latest Analysis on CYH

About Community Health Systems

(Get Free Report)

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.

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