Community Health Systems (NYSE:CYH) Releases 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. Community Health Systems also updated its FY 2024 guidance to -0.600–0.500 EPS.

Analyst Ratings Changes

Several research firms recently commented on CYH. Truist Financial reduced their price target on Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a research report on Friday. Oppenheimer boosted their price target on Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Barclays lifted their price objective on Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $6.00 price objective on shares of Community Health Systems in a report on Monday, August 12th. Finally, UBS Group lifted their price objective on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Five research 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.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.18.

Community Health Systems Stock Performance

Shares of NYSE CYH traded down $0.25 during trading on Friday, reaching $4.00. The stock had a trading volume of 2,796,764 shares, compared to its average volume of 1,788,841. Community Health Systems has a one year low of $2.01 and a one year high of $6.29. The stock has a market cap of $555.86 million, a PE ratio of -4.21 and a beta of 1.55. The firm’s 50 day moving average price is $5.54 and its two-hundred day moving average price is $4.34.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Community Health Systems’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.33) EPS. On average, research analysts expect that Community Health Systems will post -0.41 earnings per share 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.