Is Community Health Systems, Inc. (NYSE: CYH) Stock Ready For A Higher Run In Its Share Price?

In the last trading session, 1.23 million Community Health Systems, Inc. (NYSE:CYH) shares changed hands as the company’s beta touched 1.87. With the company’s per share price at $2.87 changed hands at $0.07 or 2.50% during last session, the market valuation stood at $392.62M. CYH’s last price was a discount, traded about -179.09% off its 52-week high of $8.01. The share price had its 52-week low at $2.01, which suggests the last value was 29.97% up since then. When we look at Community Health Systems, Inc.’s average trading volume, we note the 10-day average is 1.28 million shares, with the 3-month average coming to 1.35 million.

Analysts gave the Community Health Systems, Inc. (CYH) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 5 recommended CYH as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Community Health Systems, Inc.’s EPS for the current quarter is expected to be $0.06.

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Community Health Systems, Inc. (NYSE:CYH) trade information

Instantly CYH was in green as seen at the end of in last trading. With action 17.62%, the performance over the past five days has been green. The jump to weekly highs of 2.99 on Monday, 11/20/23 added 2.50% to the stock’s daily price. The company’s shares are showing year-to-date downside of -33.56%, with the 5-day performance at 17.62% in the green. However, in the 30-day time frame, Community Health Systems, Inc. (NYSE:CYH) is 13.89% up. Looking at the short shares, we see there were 10.78 million shares sold at short interest cover period of 6.96 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.59, meaning bulls need an upside of 37.47% from its current market value. According to analyst projections, CYH’s forecast low is $2.50 with $6.50 as the target high. To hit the forecast high, the stock’s price needs a -126.48% plunge from its current level, while the stock would need to tank 12.89% for it to hit the projected low.

Community Health Systems, Inc. (CYH) estimates and forecasts

Data shows that the Community Health Systems, Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -16.33% over the past 6 months, a 34.78% in annual growth rate that is considerably higher than the industry average of 12.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Community Health Systems, Inc. will fall -96.00%, while the growth in revenue is estimated to hit 81.40% for the next quarter. Year-over-year growth is forecast to reach 2.10% up from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $3.15 billion. 5 analysts are of the opinion that Community Health Systems, Inc.’s revenue for the quarter ending Mar 2024 will be $3.16 billion. The company’s revenue for the corresponding quarters a year ago was $3.14 billion and $3.11 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 0.30%. The estimates for the next quarter sales put growth at 1.50%.

The 2023 estimates are for Community Health Systems, Inc. earnings to increase by 38.12%, but the outlook for the next 5-year period is at -7.95% per year.

CYH Dividends

Community Health Systems, Inc. is expected to release its next quarterly earnings report between February 13 and February 19.

Community Health Systems, Inc. (NYSE:CYH)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 7.11% of Community Health Systems, Inc. shares while 79.56% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 85.66%. There are 79.56% institutions holding the Community Health Systems, Inc. stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 15.09% of the shares, roughly 20.64 million CYH shares worth $90.83 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 7.26% or 9.93 million shares worth $43.7 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. With 8.6 million shares estimated at $24.93 million under it, the former controlled 6.28% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.91% of the shares, roughly 3.98 million shares worth around $17.53 million.

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