Tenet Healthcare (THC) closed the latest trading day at $155.82, indicating a +1.99% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.61%. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq gained 0.33%.

The the stock of hospital operator has fallen by 3.31% in the past month, leading the Medical sector's loss of 3.79% and undershooting the S&P 500's gain of 5.36%.

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. It is anticipated that the company will report an EPS of $2.33, marking a 61.81% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $5.05 billion, down 0.41% from the prior-year quarter.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.73 per share and revenue of $20.82 billion. These totals would mark changes of +53.72% and +1.32%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for Tenet Healthcare. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.07% upward. Tenet Healthcare presently features a Zacks Rank of #3 (Hold).

Looking at its valuation, Tenet Healthcare is holding a Forward P/E ratio of 14.24. Its industry sports an average Forward P/E of 15.02, so one might conclude that Tenet Healthcare is trading at a discount comparatively.

It is also worth noting that THC currently has a PEG ratio of 0.78. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Hospital industry had an average PEG ratio of 1.11 as trading concluded yesterday.