Can Community Health (CYH) Run Higher on Strong Earnings Estimate Revisions?
Community Health Systems, Inc. CYH is the leading operator of general acute care hospitals that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CYH’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Community Health could be a solid choice for investors.
Current Quarter Estimates for CYH
In the past 30 days, three estimates have gone higher for Community Health while one has gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 39 cents a share 30 days ago, to a loss of 35 cents today, a move of 10.3 %.
Community Health Systems, Inc. Price and Consensus
Community Health Systems, Inc. price-consensus-chart | Community Health Systems, Inc. Quote
Current Year Estimates for CYH
Meanwhile, Community Health’s current year figures are also looking quite promising, with five estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $1.50 per share 30 days ago to a loss of $1.24 per share today, an increase of 17.3%.
Bottom Line
The stock has also started to move higher lately, adding 17.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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