Tenet Healthcare (THC) Registers a Bigger Fall Than the Market: Important Facts to Note

In the latest trading session, Tenet Healthcare (THC) closed at $182.82, marking a -2.1% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.13%. Meanwhile, the Dow experienced a drop of 0.27%, and the technology-dominated Nasdaq saw a decrease of 0.07%. The stock of hospital operator has risen by 9% in the past month, leading the Medical sector's gain of 0.73% and the S&P 500's gain of 2.71%.The upcoming earnings release of Tenet Healthcare will be of great interest to investors. The company is predicted to post an EPS of $3.35, indicating a 14.33% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $5.25 billion, up 2.42% from the prior-year quarter. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $15.54 per share and revenue of $21.15 billion, indicating changes of +30.81% and +2.36%, respectively, compared to the previous year. Investors should also note any recent changes to analyst estimates for Tenet Healthcare. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Tenet Healthcare holds a Zacks Rank of #1 (Strong Buy). Valuation is also important, so investors should note that Tenet Healthcare has a Forward P/E ratio of 12.02 right now. For comparison, its industry has an average Forward P/E of 10.69, which means Tenet Healthcare is trading at a premium to the group. One should further note that THC currently holds a PEG ratio of 0.81. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Medical - Hospital stocks are, on average, holding a PEG ratio of 1.05 based on yesterday's closing prices. The Medical - Hospital industry is part of the Medical sector. With its current Zacks Industry Rank of 28, this industry ranks in the top 12% of all industries, numbering over 250. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions. 3 Stocks Poised to Lead the AI Software RaceThe software market is expected to witness a remarkable growth trajectory worldwide. Advancements in AI, increased demand for cybersecurity, and the rapid expansion of automation and robotics is offering investors an opportunity to unlock significant growth right now.Which software stocks will soar? Which will fizzle out? Find out in our urgent special report, Software is Eating the World. It examines where the software industry stands now and reveals three favorite software stocks to ownAccess the report free today >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tenet Healthcare Corporation (THC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks