Ardent Health Partners (NYSE:ARDT) Issues FY 2024 Earnings Guidance

Ardent Health Partners (NYSE:ARDT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.230-1.370 for the period, compared to the consensus EPS estimate of 1.260. The company issued revenue guidance of $5.8 billion-$5.9 billion, compared to the consensus revenue estimate of $5.8 billion.

Ardent Health Partners Stock Performance

ARDT stock traded down $1.80 during mid-day trading on Wednesday, hitting $16.25. 563,339 shares of the company were exchanged, compared to its average volume of 377,330. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.54 and a current ratio of 1.65. The business has a 50 day simple moving average of $18.58. Ardent Health Partners has a 1-year low of $15.00 and a 1-year high of $20.72.

Ardent Health Partners (NYSE:ARDT) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. On average, analysts expect that Ardent Health Partners will post 1.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ARDT shares. Citigroup started coverage on shares of Ardent Health Partners in a report on Monday, August 12th. They issued a “buy” rating and a $21.00 price objective on the stock. JPMorgan Chase & Co. began coverage on shares of Ardent Health Partners in a report on Monday, August 12th. They issued a “neutral” rating and a $18.00 price objective on the stock. Leerink Partners began coverage on shares of Ardent Health Partners in a report on Monday, August 12th. They set an “outperform” rating and a $23.00 target price on the stock. Loop Capital began coverage on shares of Ardent Health Partners in a report on Monday, August 12th. They set a “buy” rating and a $18.00 target price on the stock. Finally, Stephens restated an “overweight” rating and set a $24.00 target price on shares of Ardent Health Partners in a report on Thursday, September 19th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $21.64.

Ardent Health Partners Company Profile

Ardent Health Partners, Inc owns and operates a network of hospitals and clinics that provides a range of healthcare services in the United States. It operates acute care hospitals, including rehabilitation hospitals and surgical hospitals. The company was founded in 2001 and is based in Brentwood, Tennessee.