Royal Bank Of Canada Issues Pessimistic Forecast for Community Health Systems (NYSE:CYH) Stock Price

Key Points

• Royal Bank of Canada has lowered its price target for Community Health Systems (NYSE:CYH) from $6.00 to $5.00 while maintaining an "outperform" rating, indicating a potential upside of 75.75%.
• Other analysts have issued mixed ratings, with Jefferies Financial Group setting a lower price target of $3.00 and several others adjusting their targets downward.
• Community Health Systems' shares traded down to $2.85, with a market capitalization of $399.18 million and a price-to-earnings ratio of -1.91.
• The company reported a quarterly EPS of ($0.05), missing analysts' estimates and showing a year-over-year revenue decline of 0.2%.

Community Health Systems (NYSE:CYH - Get Free Report) had its price target dropped by stock analysts at Royal Bank Of Canada from $6.00 to $5.00 in a report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 80.83% from the company's current price.

CYH has been the topic of a number of other reports. UBS Group set a $3.50 target price on Community Health Systems in a research report on Friday, April 25th. Barclays dropped their target price 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. Guggenheim began coverage on Community Health Systems in a research report on Wednesday, April 9th. They set a "neutral" rating on the stock. Truist Financial boosted their price objective on Community Health Systems from $3.50 to $4.25 and gave the company a "hold" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company reissued an "underweight" rating and issued a $3.50 price objective (up from $2.00) on shares of Community Health Systems in a report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $3.74.

Community Health Systems Trading Down 4.7%

NYSE:CYH traded down $0.14 during mid-day trading on Friday, hitting $2.77. The company had a trading volume of 7,086,531 shares, compared to its average volume of 3,258,186. The business has a fifty day simple moving average of $3.55 and a 200-day simple moving average of $3.21. Community Health Systems has a 1 year low of $2.24 and a 1 year high of $6.29. The firm has a market capitalization of $387.96 million, a price-to-earnings ratio of -1.86 and a beta of 2.06.

Community Health Systems (NYSE:CYH - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.10). The business had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Community Health Systems's revenue for the quarter was down .2% compared to the same quarter last year. As a group, research analysts anticipate that Community Health Systems will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On Community Health Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in shares of Community Health Systems by 250.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,023 shares of the company's stock worth $27,000 after buying an additional 6,445 shares during the period. R Squared Ltd boosted its position in shares of Community Health Systems by 71.6% during the first quarter. R Squared Ltd now owns 10,950 shares of the company's stock worth $30,000 after buying an additional 4,570 shares during the period. CWM LLC boosted its position in shares of Community Health Systems by 133.1% during the second quarter. CWM LLC now owns 10,974 shares of the company's stock worth $37,000 after buying an additional 6,266 shares during the period. Two Sigma Securities LLC bought a new stake in Community Health Systems during the fourth quarter worth approximately $33,000. Finally, Cibc World Markets Corp bought a new stake in Community Health Systems during the fourth quarter worth approximately $35,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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.