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

Community Health Systems (NYSE:CYH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -0.450–0.300 for the period, compared to the consensus estimate of -0.310. The company issued revenue guidance of $12.5 billion-$12.7 billion, compared to the consensus revenue estimate of $12.5 billion.

Wall Street Analysts Forecast Growth

CYH has been the topic of a number of recent research reports. Oppenheimer boosted their target price on Community Health Systems from $4.50 to $5.00 and gave the company an outperform rating in a report on Thursday. Truist Financial boosted their target price on Community Health Systems from $3.75 to $4.25 and gave the company a hold rating in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $4.25.

Community Health Systems Trading Up 6.9 %

CYH stock traded up $0.33 on Friday, reaching $5.09. 4,849,883 shares of the company’s stock were exchanged, compared to its average volume of 1,937,584. The stock has a fifty day moving average of $3.64 and a 200-day moving average of $3.44. Community Health Systems has a twelve month low of $2.01 and a twelve month high of $5.20.

Community Health Systems (NYSE:CYH) 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 company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the company earned ($0.22) earnings per share. Community Health Systems’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, sell-side analysts forecast that Community Health Systems will post -0.33 EPS for the current fiscal 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.