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 guidance of $(0.60)-$(0.50) for the period, compared to the consensus earnings per share 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. Community Health Systems also updated its FY 2024 guidance to -0.600–0.500 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Barclays lifted their target price on shares of Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $6.00 target price on shares of Community Health Systems in a research note on Monday, August 12th. UBS Group lifted their target price on shares of Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Truist Financial boosted their price objective 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. Finally, Wells Fargo & Company boosted their price objective on shares of Community Health Systems from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Community Health Systems presently has an average rating of “Hold” and an average target price of $5.06.

Community Health Systems Stock Performance

Shares of Community Health Systems stock traded down $1.26 on Thursday, reaching $4.29. The stock had a trading volume of 6,250,134 shares, compared to its average volume of 1,773,153. Community Health Systems has a fifty-two week low of $2.01 and a fifty-two week high of $6.29. The business’s 50-day moving average price is $5.55 and its two-hundred day moving average price is $4.34. The stock has a market cap of $596.16 million, a P/E ratio of -4.71 and a beta of 1.55.

Community Health Systems (NYSE:CYH) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business earned ($0.33) earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities analysts forecast that Community Health Systems will post -0.41 earnings per share for the current fiscal 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.