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 EPS guidance of -0.600–0.500 for the period, compared to the consensus EPS estimate of -0.600. The company issued revenue guidance of $12.5 billion-$12.6 billion, compared to the consensus revenue estimate of $12.6 billion. Community Health Systems also updated its FY24 guidance to $(0.60)-$(0.50) EPS.

Community Health Systems Stock Performance

NYSE:CYH traded down $0.26 during trading hours on Friday, reaching $3.99. The company’s stock had a trading volume of 5,166,339 shares, compared to its average volume of 1,800,804. The company has a market capitalization of $554.47 million, a P/E ratio of -4.20 and a beta of 1.55. The stock has a 50 day moving average price of $5.52 and a two-hundred day moving average price of $4.35. Community Health Systems has a 12 month low of $2.01 and a 12 month high of $6.29.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) earnings per share 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 the consensus estimate of $3.08 billion. Community Health Systems’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. As a group, analysts predict that Community Health Systems will post -0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. UBS Group lifted their price target on shares of Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Truist Financial dropped their target price on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a research report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $6.00 price target on shares of Community Health Systems in a report on Monday, August 12th. Wells Fargo & Company boosted their price objective on shares of Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Barclays lifted their price target on Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.18.

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.