Community Health Systems (NYSE:CYH) Downgraded to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of Community Health Systems (NYSE:CYH) from a hold rating to a sell rating in a research report released on Monday morning.

Other analysts also recently issued reports about the stock. UBS Group lifted their price objective on shares of Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Royal Bank of Canada reissued an “outperform” rating and set a $6.00 price target on shares of Community Health Systems in a research report on Monday, August 12th. Raymond James lowered Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Friday, November 22nd. Wells Fargo & Company lowered shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $5.00 to $2.50 in a research report on Monday. Finally, Truist Financial dropped their price objective on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.77.

Community Health Systems Stock Performance

Shares of CYH stock opened at $3.46 on Monday. Community Health Systems has a one year low of $2.31 and a one year high of $6.29. The firm has a market capitalization of $480.76 million, a price-to-earnings ratio of -1.15 and a beta of 1.60. The company has a 50 day moving average price of $4.89 and a 200 day moving average price of $4.50.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company earned ($0.33) EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities analysts forecast that Community Health Systems will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Community Health Systems

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Community Health Systems by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock valued at $28,436,000 after buying an additional 28,669 shares during the period. Whitebox Advisors LLC raised its position in Community Health Systems by 43.3% in the 2nd quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company’s stock valued at $10,150,000 after buying an additional 913,542 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Community Health Systems by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,748,786 shares of the company’s stock valued at $5,875,000 after purchasing an additional 43,145 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Community Health Systems by 6.0% in the third quarter. Assenagon Asset Management S.A. now owns 1,616,212 shares of the company’s stock valued at $9,810,000 after acquiring an additional 91,985 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Community Health Systems in the second quarter worth about $3,692,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

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.