Community Health Systems (NYSE:CYH) Updates 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 -0.650–0.050 for the period, compared to the consensus estimate of -0.410. The company issued revenue guidance of $12.3 billion-$12.7 billion, compared to the consensus revenue estimate of $12.5 billion.

Community Health Systems Price Performance

CYH traded up $0.07 during trading hours on Wednesday, reaching $3.03. 2,546,663 shares of the stock traded hands, compared to its average volume of 2,054,797. Community Health Systems has a fifty-two week low of $2.01 and a fifty-two week high of $6.53. The company has a market cap of $421.11 million, a price-to-earnings ratio of -2.94 and a beta of 1.52. The firm’s fifty day simple moving average is $3.11 and its two-hundred day simple moving average is $3.05.

Community Health Systems (NYSE:CYH) last announced its earnings results on Wednesday, February 21st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.44). The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Community Health Systems had a negative return on equity of 5.51% and a negative net margin of 1.07%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.50 earnings per share. On average, research analysts predict that Community Health Systems will post -0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CYH. Oppenheimer reduced their target price on Community Health Systems from $6.50 to $5.50 and set an outperform rating for the company in a research note on Thursday, February 22nd. Barclays began coverage on Community Health Systems in a research note on Wednesday, March 6th. They set an equal weight rating and a $3.00 price objective on the stock. Finally, StockNews.com upgraded Community Health Systems from a sell rating to a hold rating in a report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $4.20.

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.