Community Health Systems (NYSE:CYH) Posts Earnings Results, Misses Estimates By $0.05 EPS

Community Health Systems (NYSE:CYH) announced its quarterly earnings results on Wednesday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.05), Briefing.com reports. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the company earned ($0.22) earnings per share. Community Health Systems’s revenue was up .8% on a year-over-year basis. Community Health Systems updated its FY 2024 guidance to -0.450–0.300 EPS.

Community Health Systems Trading Up 6.1 %

NYSE CYH traded up $0.29 during trading on Friday, reaching $5.05. The company’s stock had a trading volume of 2,296,930 shares, compared to its average volume of 1,887,323. Community Health Systems has a 12 month low of $2.01 and a 12 month high of $5.20. The firm has a 50 day moving average price of $3.61 and a 200 day moving average price of $3.43. The firm has a market capitalization of $701.80 million, a price-to-earnings ratio of -5.31 and a beta of 1.52.

Analyst Upgrades and Downgrades

CYH has been the subject of a number of research reports. Truist Financial raised their target price 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 boosted their price objective on Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Community Health Systems currently has an average rating of “Hold” and an average price target of $4.25.

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.