In the latest market close, Tenet Healthcare (THC) reached $161.71, with a -1.41% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.02%. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.04%.

Shares of the hospital operator witnessed a gain of 1.84% over the previous month, beating the performance of the Medical sector with its loss of 4.19% and underperforming the S&P 500's gain of 3.77%.

Analysts and investors alike will be keeping a close eye on the performance of Tenet Healthcare in its upcoming earnings disclosure. The company's earnings report is set to go public on October 29, 2024. The company is expected to report EPS of $2.33, up 61.81% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $5.05 billion, indicating a 0.38% decrease compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.72 per share and a revenue of $20.8 billion, representing changes of +53.58% and +1.22%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Tenet Healthcare. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% increase. At present, Tenet Healthcare boasts a Zacks Rank of #3 (Hold).

Looking at its valuation, Tenet Healthcare is holding a Forward P/E ratio of 15.3. This signifies a discount in comparison to the average Forward P/E of 15.83 for its industry.

Investors should also note that THC has a PEG ratio of 0.84 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Hospital industry currently had an average PEG ratio of 1.19 as of yesterday's close.

The Medical - Hospital industry is part of the Medical sector. With its current Zacks Industry Rank of 11, this industry ranks in the top 5% of all industries, numbering over 250.

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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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