Why Tenet Healthcare (THC) Outpaced the Stock Market Today

Tenet Healthcare (THC) closed the most recent trading day at $127.75, moving +1.93% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 1.08%. On the other hand, the Dow registered a gain of 0.92%, and the technology-centric Nasdaq increased by 1.41%.Shares of the hospital operator witnessed a loss of 7.1% over the previous month, trailing the performance of the Medical sector with its gain of 0.21% and outperforming the S&P 500's loss of 8.26%.The upcoming earnings release of Tenet Healthcare will be of great interest to investors. It is anticipated that the company will report an EPS of $3.10, marking a 3.73% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $5.18 billion, down 3.53% from the year-ago period.For the full year, the Zacks Consensus Estimates are projecting earnings of $12.03 per share and revenue of $20.84 billion, which would represent changes of +1.26% and +0.87%, respectively, from the prior year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Tenet Healthcare. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.1% lower. Tenet Healthcare is currently sporting a Zacks Rank of #3 (Hold).Digging into valuation, Tenet Healthcare currently has a Forward P/E ratio of 10.41. This signifies a premium in comparison to the average Forward P/E of 10.17 for its industry.We can also see that THC currently has a PEG ratio of 0.95. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Hospital was holding an average PEG ratio of 1.04 at yesterday's closing price.The Medical - Hospital industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 167, finds itself in the bottom 34% echelons of all 250+ industries.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.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>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