What is Zacks Research’s Estimate for THC FY2024 Earnings?

Tenet Healthcare Co. (NYSE:THC) – Equities researchers at Zacks Research issued their FY2024 earnings per share (EPS) estimates for shares of Tenet Healthcare in a research report issued to clients and investors on Tuesday, November 12th. Zacks Research analyst R. Department forecasts that the company will post earnings of $11.34 per share for the year. The consensus estimate for Tenet Healthcare’s current full-year earnings is $11.38 per share. Zacks Research also issued estimates for Tenet Healthcare’s Q4 2024 earnings at $2.88 EPS, Q1 2025 earnings at $2.94 EPS, Q2 2025 earnings at $2.67 EPS, Q3 2025 earnings at $2.71 EPS, Q4 2025 earnings at $3.21 EPS, FY2025 earnings at $11.53 EPS, Q1 2026 earnings at $3.46 EPS, Q2 2026 earnings at $3.21 EPS, Q3 2026 earnings at $3.02 EPS and FY2026 earnings at $13.45 EPS.

THC has been the topic of several other research reports. The Goldman Sachs Group lifted their price target on Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Truist Financial reiterated a “buy” rating and issued a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. Cantor Fitzgerald lifted their price target on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Citigroup boosted their price objective on Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, UBS Group boosted their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $170.38.

Tenet Healthcare Trading Down 0.2 %

Shares of THC opened at $162.64 on Friday. Tenet Healthcare has a 52-week low of $57.65 and a 52-week high of $171.20. The business’s fifty day moving average is $159.54 and its 200-day moving average is $146.36. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of 5.21, a PEG ratio of 0.73 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the firm earned $1.44 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Plato Investment Management Ltd acquired a new position in Tenet Healthcare during the 3rd quarter worth approximately $28,000. ORG Wealth Partners LLC acquired a new position in Tenet Healthcare during the 3rd quarter worth approximately $30,000. Financial Management Professionals Inc. raised its stake in Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after buying an additional 200 shares during the period. Innealta Capital LLC acquired a new position in Tenet Healthcare during the 2nd quarter worth approximately $28,000. Finally, True Wealth Design LLC acquired a new position in Tenet Healthcare during the 3rd quarter worth approximately $38,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at $2,427,362.04. The trade was a 20.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard W. Fisher sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total value of $327,340.00. Following the completion of the transaction, the director now directly owns 14,227 shares in the company, valued at $2,328,533.09. This represents a 12.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,599 shares of company stock worth $2,830,834. Insiders own 0.93% of the company’s stock.

Tenet Healthcare declared that its board has authorized a share repurchase program on Wednesday, July 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 10.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.