Truist Financial Cuts Community Health Systems (NYSE:CYH) Price Target to $3.50

Community Health Systems (NYSE:CYH) had its price target reduced by Truist Financial from $5.00 to $3.50 in a report released on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Community Health Systems from a “hold” rating to a “sell” rating in a research report on Monday, November 25th. Barclays lifted their price target on Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Raymond James downgraded Community Health Systems from a “market perform” rating to an “underperform” rating in a research note on Friday, November 22nd. Finally, Wells Fargo & Company downgraded Community Health Systems from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $5.00 to $2.50 in a report on Monday, November 25th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.52.

Community Health Systems Stock Performance

Community Health Systems stock opened at $3.12 on Monday. The firm has a market cap of $433.52 million, a price-to-earnings ratio of -1.03 and a beta of 1.59. Community Health Systems has a 1 year low of $2.51 and a 1 year high of $6.29. The firm’s 50 day moving average price is $3.56 and its two-hundred day moving average price is $4.42.

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 firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the business earned ($0.33) earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities analysts predict that Community Health Systems will post -0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Community Health Systems

Several large investors have recently made changes to their positions in the company. Signaturefd LLC acquired a new stake in Community Health Systems in the third quarter valued at approximately $33,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Community Health Systems in the 2nd quarter valued at $33,000. CWM LLC boosted its holdings in Community Health Systems by 32.1% in the third quarter. CWM LLC now owns 12,191 shares of the company’s stock worth $74,000 after purchasing an additional 2,961 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Community Health Systems during the second quarter worth $45,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Community Health Systems in the third quarter worth about $94,000. Institutional investors own 84.99% of the company’s stock.

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.