Community Health Systems Inc. (NYSE:CYH) shares, rose in value on Thursday, 05/25/23, with the stock price down by -0.65% to the previous day’s close as strong demand from buyers drove the stock to $3.07.
Actively observing the price movement in the last trading, the stock closed the session at $3.09, falling within a range of $2.98 and $3.1288. The value of beta (5-year monthly) was 1.65. Referring to stock’s 52-week performance, its high was $8.01, and the low was $1.88. On the whole, CYH has fluctuated by -47.61% over the past month.
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With the market capitalization of Community Health Systems Inc. currently standing at about $430.69 million, investors are eagerly awaiting this quarter’s results, scheduled for Jul 25, 2023 – Jul 31, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.25, which is expected to increase to -$0.03 for fiscal year -$0.55 and then to about $0.41 by fiscal year 2024. Data indicates that the EPS growth is expected to be 60.10% in 2024, while the next year’s EPS growth is forecast to be 174.50%.
Analysts have estimated the company’s revenue for the quarter at $3.04 billion, with a low estimate of $2.97 billion and a high estimate of $3.08 billion. According to the average forecast, sales growth in current quarter could jump up 3.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $12.4 billion, representing an increase of 1.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CYH’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CYH currently trading nearly -21.37% and -33.70% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 27.85, while the 7-day volatility ratio is showing 5.13% which for the 30-day chart, stands at 6.43%. Furthermore, Community Health Systems Inc. (CYH)’s beta value is 1.71, and its average true range (ATR) is 0.27. The company’s stock has been forecasted to trade at an average price of $6.44 over the course of the next 52 weeks, with a low of $4.00 and a high of $13.75. Based on these price targets, the low is -30.29% off current price, whereas the price has to move -347.88% to reach the yearly target high. Additionally, analysts’ median price of $5.88 is likely to be welcomed by investors because it represents a decrease of -91.53% from the current levels.
A comparison of Community Health Systems Inc. (CYH) with its peers suggests the former has fared considerably weaker in the market. CYH showed an intraday change of -0.65% in last session, and over the past year, it shrunk by -41.75%%. In comparison, Select Medical Holdings Corporation (SEM) has moved lower at -1.38% on the day and was up 12.10% over the past 12 months. On the other hand, the price of HCA Healthcare Inc. (HCA) has fallen -0.31% on the day. The stock, however, is off 28.98% from where it was a year ago. Additionally, there is a gain of 0.57% for Tenet Healthcare Corporation (THC) in last trading while the stock has seen an overall depriciation of 11.36%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.88%. Meanwhile, the Dow Jones Industrial Slipped by -0.11%.
Data on historical trading for Community Health Systems Inc. (NYSE:CYH) indicates that the trading volumes over the past 10 days have averaged 1.52 million and over the past 3 months, they’ve averaged 1.90 million. According to company’s latest data on outstanding shares, there are 129.69 million shares outstanding.
Nearly 3.10% of Community Health Systems Inc.’s shares belong to company insiders and institutional investors own 82.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.95 million shares as on Apr 27, 2023, resulting in a short ratio of 5.88. According to the data, the short interest in Community Health Systems Inc. (CYH) stood at 6.54% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 11.09 million. The stock has fallen by -28.94% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CYH stock heading into the next quarter.