HCA Healthcare (HCA) Exceeds Market Returns: Some Facts to Consider
In the latest market close, HCA Healthcare (HCA) reached $331.69, with a +1.21% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.86%. Meanwhile, the Dow experienced a rise of 1.22%, and the technology-dominated Nasdaq saw an increase of 0.51%.
The the stock of hospital operator has risen by 4.37% in the past month, leading the Medical sector's loss of 0.63% and the S&P 500's gain of 2.84%.
Analysts and investors alike will be keeping a close eye on the performance of HCA Healthcare in its upcoming earnings disclosure. The company's earnings report is set to go public on April 26, 2024. On that day, HCA Healthcare is projected to report earnings of $4.92 per share, which would represent a year-over-year decline of 0.2%. Our most recent consensus estimate is calling for quarterly revenue of $16.79 billion, up 7.72% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $20.49 per share and a revenue of $68.97 billion, indicating changes of +7.79% and +6.16%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for HCA Healthcare. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.23% higher. HCA Healthcare presently features a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that HCA Healthcare has a Forward P/E ratio of 15.99 right now. This expresses a discount compared to the average Forward P/E of 16.4 of its industry.
It is also worth noting that HCA currently has a PEG ratio of 1.65. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. HCA's industry had an average PEG ratio of 1.96 as of yesterday's close.
The Medical - Hospital industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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HCA Healthcare, Inc. (HCA) : Free Stock Analysis Report
