What is Zacks Research’s Estimate for THC FY2024 Earnings?

Tenet Healthcare Co. (NYSE:THC) – Analysts at Zacks Research issued their FY2024 earnings per share (EPS) estimates for Tenet Healthcare in a research note issued on Tuesday, November 12th. Zacks Research analyst R. Department forecasts that the company will earn $11.34 per share for the year. The consensus estimate for Tenet Healthcare’s current full-year earnings is $11.38 per share. Zacks Research also issued estimates for Tenet Healthcare’s Q4 2024 earnings at $2.88 EPS, Q1 2025 earnings at $2.94 EPS, Q2 2025 earnings at $2.67 EPS, Q3 2025 earnings at $2.71 EPS, Q4 2025 earnings at $3.21 EPS, FY2025 earnings at $11.53 EPS, Q1 2026 earnings at $3.46 EPS, Q2 2026 earnings at $3.21 EPS, Q3 2026 earnings at $3.02 EPS and FY2026 earnings at $13.45 EPS.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.60. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Tenet Healthcare’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 earnings per share.

Several other equities analysts have also weighed in on THC. Barclays increased their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Raymond James increased their price objective on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Citigroup increased their price objective on Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a report on Thursday, July 25th. KeyCorp began coverage on Tenet Healthcare in a report on Friday, October 11th. They set an “overweight” rating and a $200.00 price objective for the company. Finally, UBS Group increased their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $170.38.

Tenet Healthcare Stock Performance

THC stock opened at $155.34 on Friday. The business has a 50 day moving average of $159.57 and a 200-day moving average of $146.75. Tenet Healthcare has a 12-month low of $57.65 and a 12-month high of $171.20. The firm has a market cap of $14.77 billion, a PE ratio of 4.98, a P/E/G ratio of 0.73 and a beta of 2.15. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Legacy Capital Group California Inc. bought a new position in shares of Tenet Healthcare during the third quarter valued at about $1,055,000. Diversified Trust Co bought a new position in shares of Tenet Healthcare during the second quarter valued at about $558,000. O Shaughnessy Asset Management LLC grew its stake in shares of Tenet Healthcare by 31.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 28,171 shares of the company’s stock worth $2,961,000 after purchasing an additional 6,687 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Tenet Healthcare in the first quarter worth about $537,000. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Tenet Healthcare by 124.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,787 shares of the company’s stock worth $1,701,000 after purchasing an additional 7,078 shares during the last quarter. 95.44% of the stock is owned by institutional investors.

Insider Activity at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the transaction, the director now owns 14,227 shares of the company’s stock, valued at $2,328,533.09. This represents a 12.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total value of $1,879,733.94. Following the completion of the transaction, the insider now directly owns 6,324 shares in the company, valued at approximately $1,024,867.44. This represents a 64.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,599 shares of company stock valued at $2,830,834 over the last 90 days. 0.93% of the stock is owned by insiders.

Tenet Healthcare announced that its board has initiated a stock buyback program on Wednesday, July 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.