Community Health Systems (NYSE:CYH) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Community Health Systems (NYSE:CYH) posted its quarterly earnings data on Wednesday. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05, Briefing.com reports. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. Community Health Systems had a negative net margin of 0.99% and a negative return on equity of 5.51%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.43) earnings per share. Community Health Systems updated its FY 2024 guidance to -0.650–0.050 EPS.

Community Health Systems Price Performance

CYH traded up $0.14 during midday trading on Friday, hitting $3.39. 2,505,350 shares of the company’s stock traded hands, compared to its average volume of 1,730,550. The stock’s fifty day simple moving average is $3.06 and its 200-day simple moving average is $3.06. Community Health Systems has a one year low of $2.01 and a one year high of $6.53.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CYH shares. Barclays started coverage on shares of Community Health Systems in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $3.00 price objective for the company. StockNews.com raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Oppenheimer cut their price target on shares of Community Health Systems from $5.50 to $4.50 and set an “outperform” rating for the company in a report on Thursday. Finally, Truist Financial upped their price target on shares of Community Health Systems from $3.25 to $3.75 and gave the company a “hold” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.05.

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.