Tenet Shares Rise Ahead of Earnings Disclosure
The hospital operator outpaced major indexes, while analysts’ consensus calls for higher quarterly earnings and revenue.
At 20:00 UTC Friday, Tenet Healthcare shares traded at $258.62, up 1.83% from the previous close. The gain topped advances in the S&P 500, Dow and Nasdaq.
Over the past month, the shares fell 3.61%, slightly less than the Medical sector’s 3.74% decline. The S&P 500 gained 0.55% over that period.
Ahead of Tenet’s next earnings disclosure, Zacks’ consensus estimate calls for earnings of $4.59 per share and revenue of $5.47 billion. Those figures would represent increases of 24.05% and 3.4%, respectively, from the same quarter a year earlier.
For the full year, the consensus forecast is $21.04 per share in earnings and $22.2 billion in revenue. Those estimates are up 25.39% and 4.18%, respectively, from the previous year.
The consensus estimate for quarterly earnings per share edged down 0.02% over the past 30 days. Zacks put Tenet’s forward price-to-earnings ratio at 12.07, level with the Medical - Hospital industry average.
This article was produced with the help of AI technology. Source: Yahoo Finance
