Community Health Systems, Inc. (NYSE:CYH) Receives Average Recommendation of “Hold” from Analysts

Shares of Community Health Systems, Inc. (NYSE:CYH) have received an average rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $4.52.

A number of brokerages have recently commented on CYH. Wells Fargo & Company lowered shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $5.00 to $2.50 in a research report on Monday, November 25th. Raymond James cut shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a research report on Friday, November 22nd. StockNews.com downgraded Community Health Systems from a “hold” rating to a “sell” rating in a research report on Monday, November 25th. Truist Financial reduced their price target on Community Health Systems from $5.00 to $3.50 and set a “hold” rating for the company in a research report on Monday, January 6th. Finally, Barclays boosted their price target on Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th.

Hedge Funds Weigh In On Community Health Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC increased its stake in shares of Community Health Systems by 301.3% during the third quarter. Los Angeles Capital Management LLC now owns 334,189 shares of the company’s stock worth $2,029,000 after purchasing an additional 250,909 shares during the period. Assenagon Asset Management S.A. grew its holdings in Community Health Systems by 157.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,166,890 shares of the company’s stock valued at $12,459,000 after buying an additional 2,550,678 shares in the last quarter. Barclays PLC lifted its holdings in shares of Community Health Systems by 1,278.2% during the third quarter. Barclays PLC now owns 707,805 shares of the company’s stock worth $4,296,000 after buying an additional 656,447 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Community Health Systems by 51.0% in the second quarter. Marshall Wace LLP now owns 942,303 shares of the company’s stock valued at $3,166,000 after acquiring an additional 318,333 shares during the period. Finally, Signaturefd LLC acquired a new position in shares of Community Health Systems in the third quarter valued at about $33,000. 84.99% of the stock is owned by institutional investors.

Community Health Systems Price Performance

NYSE:CYH opened at $3.42 on Friday. The business’s 50-day simple moving average is $3.29 and its 200-day simple moving average is $4.40. Community Health Systems has a fifty-two week low of $2.51 and a fifty-two week high of $6.29. The stock has a market capitalization of $474.51 million, a PE ratio of -1.13 and a beta of 1.59.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.08 billion. Community Health Systems’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the business posted ($0.33) EPS. On average, research analysts expect that Community Health Systems will post -0.56 earnings per share for the current year.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.