Tenet Healthcare Corporation (NYSE:THC) has a beta value of 2.64 and has seen 518,544 shares traded in the last trading session. The company, currently valued at $3.33 Billion, closed the last trade at $31.59 per share which meant it lost -$0.24 on the day or -0.75% during that session. The THC stock price is -24.63% off its 52-week high price of $39.37 and 68.34% above the 52-week low of $10. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.15 Million shares traded. The 3-month trading volume is 1.37 Million shares.
The consensus among analysts is that Tenet Healthcare Corporation (THC) is an Overweight stock at the moment, with a recommendation rating of 2.6. 1 analysts rate the stock as a Sell, while 1 rate it as Overweight. 11 out of 19 have rated it as a Hold, with 6 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.88.
Tenet Healthcare Corporation (NYSE:THC) trade information
Despite being -0.75% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Nov 17 when the THC stock price touched $32.86- or saw a rise of 3.86%. Year-to-date, Tenet Healthcare Corporation shares have moved -16.93%, while the 5-day performance has seen it change 1.41%. Over the past 30 days, the shares of Tenet Healthcare Corporation (NYSE:THC) have changed 10.57%. Short interest in the company has seen 7.7 Million shares shorted with days to cover at 5.62.
Wall Street analysts have a consensus price target for the stock at $32.71, which means that the shares’ value could jump 3.55% from current levels. The projected low price target is $20 while the price target rests at a high of $43. In that case, then, we find that the current price level is +36.12% off the targeted high while a plunge would see the stock lose -36.69% from current levels.
Tenet Healthcare Corporation (THC) estimates and forecasts
Figures show that Tenet Healthcare Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained +32.68% over the past 6 months, with this year growth rate of 60.07%, compared to 9.8% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -11.1% and -65.6% for the next quarter. Revenue growth from the last financial year stood is estimated to be -4.5%.
15 analysts offering their estimates for the company have set an average revenue estimate of $4.87 Billion for the current quarter. 11 have an estimated revenue figure of $4.7 Billion for the next quarter concluding in March 01, 2021. Year-ago sales stood $4.81 Billion and $4.52 Billion respectively for this quarter and the next, and analysts expect sales will grow by 1.4% for the current quarter and 4% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -54.9% over the past 5 years. Earnings growth for 2020 is a modest -326.1% while over the next 5 years, the company’s earnings are expected to increase by 9.1%.
Tenet Healthcare Corporation (NYSE:THC)’s Major holders
Insiders own 1.83% of the company shares, while shares held by institutions stand at 97.72% with a share float percentage of 99.54%. Investors are also buoyed by the number of investors in a company, with Tenet Healthcare Corporation having a total of 356 institutions that hold shares in the company. The top two institutional holders are Glenview Capital Management, LLC with over 19.76 Million shares worth more than $484.35 Million. As of September 29, 2020, Glenview Capital Management, LLC held 18.73% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 11.9 Million shares as of September 29, 2020. The firm’s total holdings are worth over $291.56 Million and represent 11.27% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF. As of June 29, 2020, the former fund manager holds about 2.81% shares in the company for having 2968877 shares of worth $53.77 Million while later fund manager owns 2.76 Million shares of worth $67.62 Million as of September 29, 2020, which makes it owner of about 2.61% of company’s outstanding stock.