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

Community Health Systems (NYSE:CYH) 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CYH. Royal Bank of Canada reissued an “outperform” rating and set a $6.00 target price on shares of Community Health Systems in a research note on Monday, August 12th. Truist Financial upped their target price on shares of Community Health Systems from $3.75 to $4.25 and gave the stock a “hold” rating in a research note on Monday, July 15th. Oppenheimer lifted their price target on shares of Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Barclays raised their price objective on Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Wells Fargo & Company upped their target price on Community Health Systems from $3.50 to $5.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Community Health Systems currently has a consensus rating of “Hold” and an average target price of $5.06.

Community Health Systems Stock Performance

Community Health Systems stock traded down $1.30 during mid-day trading on Thursday, reaching $4.25. 8,332,031 shares of the company were exchanged, compared to its average volume of 1,784,442. The firm has a market cap of $590.61 million, a P/E ratio of -4.71 and a beta of 1.55. Community Health Systems has a 12-month low of $2.01 and a 12-month high of $6.29. The business has a fifty day moving average of $5.55 and a 200 day moving average of $4.34.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. Community Health Systems’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.33) earnings per share. Sell-side analysts predict that Community Health Systems will post -0.41 EPS for the current year.

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.