Community Health Systems (NYSE:CYH) Issues Quarterly Earnings Results

Key Points

• Community Health Systems reported a quarterly earnings per share (EPS) of $1.27, significantly exceeding the consensus estimate of ($0.30) by $1.57.
• The company's stock price increased slightly to $3.26, while its market capitalization stands at $456.09 million.
• Most analysts maintain a consensus rating of "Reduce" on Community Health Systems, with an average price target of $3.66.

Community Health Systems (NYSE:CYH - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $1.57, Zacks reports.

Community Health Systems Price Performance

NYSE CYH traded up $0.03 during trading hours on Thursday, hitting $3.26. 2,811,353 shares of the company's stock traded hands, compared to its average volume of 2,572,890. The company has a market capitalization of $456.09 million, a PE ratio of -2.18 and a beta of 1.88. Community Health Systems has a 52-week low of $2.24 and a 52-week high of $4.89. The firm's 50-day moving average is $2.96 and its 200-day moving average is $3.11.

Analyst Ratings Changes

Several research firms have recently weighed in on CYH. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Community Health Systems in a report on Wednesday, October 8th. Barclays lowered their price target on Community Health Systems from $4.00 to $3.50 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. Royal Bank Of Canada cut their price objective on Community Health Systems from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Jefferies Financial Group reissued a "hold" rating and issued a $3.00 price target (down previously from $4.25) on shares of Community Health Systems in a research note on Thursday, July 24th. Finally, UBS Group reduced their price objective on shares of Community Health Systems from $3.50 to $3.20 and set a "neutral" rating for the company in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Community Health Systems currently has a consensus rating of "Reduce" and an average price target of $3.66.

Hedge Funds Weigh In On Community Health Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYH. Sender Co & Partners Inc. acquired a new stake in shares of Community Health Systems in the 2nd quarter worth $59,000. Nebula Research & Development LLC acquired a new stake in Community Health Systems during the second quarter worth about $116,000. Headlands Technologies LLC acquired a new position in Community Health Systems in the 2nd quarter valued at about $128,000. Engineers Gate Manager LP purchased a new stake in shares of Community Health Systems in the 2nd quarter valued at approximately $202,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Community Health Systems by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,987 shares of the company's stock worth $202,000 after buying an additional 3,204 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company's stock.

About Community Health Systems

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.

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