Community Health Systems (NYSE:CYH) Shares Gap Down After Earnings Miss

Community Health Systems, Inc. (NYSE:CYH)’s share price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $3.35, but opened at $3.19. Community Health Systems shares last traded at $3.61, with a volume of 2,147,916 shares traded.

The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.51). The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.14 billion.

Analyst Ratings Changes

A number of analysts recently commented on the company. Raymond James lowered Community Health Systems from a “market perform” rating to an “underperform” rating in a research report on Friday, November 22nd. StockNews.com lowered Community Health Systems from a “hold” rating to a “sell” rating in a research report on Monday, November 25th. Wells Fargo & Company lowered Community Health Systems from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $5.00 to $2.50 in a research report on Monday, November 25th. Truist Financial lowered their price objective on Community Health Systems from $5.00 to $3.50 and set a “hold” rating for the company in a research report on Monday, January 6th. Finally, Barclays lifted their price objective on Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.52.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in shares of Community Health Systems by 250.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,023 shares of the company’s stock worth $27,000 after acquiring an additional 6,445 shares during the last quarter. Signaturefd LLC acquired a new position in Community Health Systems in the 3rd quarter valued at $33,000. Two Sigma Securities LLC acquired a new position in Community Health Systems in the 4th quarter valued at $33,000. Cibc World Markets Corp acquired a new position in Community Health Systems in the 4th quarter valued at $35,000. Finally, Virtu Financial LLC acquired a new position in Community Health Systems in the 4th quarter valued at $38,000. 84.99% of the stock is owned by institutional investors and hedge funds.

Community Health Systems Stock Performance

The business has a fifty day simple moving average of $3.21 and a 200 day simple moving average of $4.29. The stock has a market capitalization of $502.30 million, a price-to-earnings ratio of -1.20 and a beta of 1.63.

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.