Wells Fargo & Company Has Lowered Expectations for Community Health Systems (NYSE:CYH) Stock Price

Key Points

• Wells Fargo & Company has lowered its price target for Community Health Systems (NYSE:CYH) from $3.50 to $2.50, indicating a potential downside of 8.59% from the stock's previous close, along with an "underweight" rating.
• Community Health Systems has recently seen mixed reviews from analysts, with Truist increasing its target to $4.25 while others, including Barclays and Jefferies, reduced their targets, reflecting varied market sentiments.
• The company's stock has a current trading price of $2.74, with a 12-month low of $2.24 and average price targets pointing towards an overall "Hold" rating from analysts.

Community Health Systems (NYSE:CYH - Get Free Report) had its target price decreased by Wells Fargo & Company from $3.50 to $2.50 in a report released on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the stock. Wells Fargo & Company's target price indicates a potential downside of 8.42% from the stock's current price.

A number of other research firms also recently weighed in on CYH. Jefferies Financial Group reaffirmed a "hold" rating and set a $3.00 price objective (down from $4.25) on shares of Community Health Systems in a report on Thursday, July 24th. Barclays decreased their price objective on Community Health Systems from $4.00 to $3.50 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. Truist Financial lifted 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. Royal Bank Of Canada decreased their price objective on Community Health Systems from $6.00 to $5.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Finally, UBS Group cut their target price on shares of Community Health Systems from $3.50 to $3.20 and set a "neutral" rating for the company in a research note on Friday, July 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Community Health Systems has a consensus rating of "Hold" and an average target price of $3.58.

Community Health Systems Price Performance

CYH stock remained flat at $2.73 during trading on Thursday. The company had a trading volume of 1,669,747 shares, compared to its average volume of 4,331,467. Community Health Systems has a fifty-two week low of $2.24 and a fifty-two week high of $6.29. The firm has a market capitalization of $382.53 million, a P/E ratio of -1.83 and a beta of 1.86. The business's fifty day simple moving average is $3.16 and its 200 day simple moving average is $3.14.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CYH. Tower Research Capital LLC TRC raised its position in Community Health Systems by 250.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,023 shares of the company's stock worth $27,000 after purchasing an additional 6,445 shares during the last quarter. R Squared Ltd raised its position in Community Health Systems by 71.6% in the 1st quarter. R Squared Ltd now owns 10,950 shares of the company's stock worth $30,000 after purchasing an additional 4,570 shares during the last quarter. Two Sigma Securities LLC bought a new position in Community Health Systems in the 4th quarter worth approximately $33,000. Harbor Capital Advisors Inc. bought a new stake in shares of Community Health Systems during the 1st quarter valued at $36,000. Finally, CWM LLC raised its position in shares of Community Health Systems by 133.1% during the 2nd quarter. CWM LLC now owns 10,974 shares of the company's stock valued at $37,000 after acquiring an additional 6,266 shares during the last quarter. Institutional investors own 84.99% of the company's stock.

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.