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

Community Health Systems (NYSE:CYH) released its 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 company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the company earned ($0.22) EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Community Health Systems updated its FY 2024 guidance to -0.450–0.300 EPS.

Community Health Systems Stock Performance

Shares of NYSE:CYH traded up $0.33 on Friday, reaching $5.09. The company’s stock had a trading volume of 4,849,883 shares, compared to its average volume of 1,937,584. The company has a 50-day simple moving average of $3.64 and a 200 day simple moving average of $3.44. Community Health Systems has a 52-week low of $2.01 and a 52-week high of $5.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial increased their price objective on shares of Community Health Systems from $3.75 to $4.25 and gave the company a “hold” rating in a report on Monday, July 15th. Oppenheimer lifted their price target on shares of Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.25.

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.