Plus   Neg

Stock Alert: Community Health Systems Inc. (CYH) Shares Soar 39.71%

Shares of Community Health Systems Inc. (CYH) soared 39.71% on Feb. 20, and ended Thursday's trading session at $6.72. The stock has been trading between $1.79 and $7.27 in the past one year. Trading volume surged to 18.34 million versus an average volume of 2.41 million shares.

The company, on Feb. 19, reported Q4 net operating revenues of $3.286 billion, and ajusted earnings of $0.40 per share, well above the Wall Street analysts' estimate of $3.18 billion in revenues and $0.46 loss per share.

Wayne Smith, chairman and chief executive officer of Community Health, said, "We concluded 2019 with a strong finish to the year. Our successful divestiture program, along with strategic growth initiatives in our core portfolio of markets, has driven better results, including improved same-store volume and net revenue growth in 2019..."

Looking ahead, the company expects to deliver incremental growth in 2020, driven by a combination of continued same-store net revenue performance and execution across its strategic margin improvement programs.

For fiscal 2020, the company projects net operating revenues to be $12.4 billion - $12.8 billion, net result to be a loss of $1.30 - loss $0.60 per share, same-store adjusted admissions growth of 1.5% - 2.5%, and adjusted EBITDA to be $1.65 billion - $1.8 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT