Community Health Systems (NYSE:CYH) Updates FY24 Earnings Guidance

Community Health Systems (NYSE:CYH) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $(0.60)-$(0.50) for the period, compared to the consensus estimate of ($0.38). The company issued revenue guidance of $12.45-12.55 billion, compared to the consensus revenue estimate of $12.60 billion.

Wall Street Analysts Forecast Growth

CYH has been the topic of several analyst reports. Truist Financial lifted 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 note on Monday, July 15th. Oppenheimer upped their target price on Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company raised 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. UBS Group upped their price target on shares of Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $6.00 target price on shares of Community Health Systems in a research note on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Community Health Systems presently has an average rating of “Hold” and an average price target of $4.73.

Community Health Systems Stock Up 0.7 %

CYH stock traded up $0.04 during midday trading on Wednesday, reaching $5.53. The company had a trading volume of 1,514,554 shares, compared to its average volume of 1,750,272. 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 capitalization of $768.48 million, a PE ratio of -5.78 and a beta of 1.55. Community Health Systems has a fifty-two week low of $2.01 and a fifty-two week high of $6.29.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Wednesday, July 24th. The company reported ($0.17) EPS 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. Community Health Systems’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.22) EPS. Research analysts predict that Community Health Systems will post -0.41 EPS for the current year.

About Community Health Systems

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.