Tenet Healthcare (THC) closed at $129.64 in the latest trading session, marking a +0.14% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.73% for the day. Elsewhere, the Dow gained 0.16%, while the tech-heavy Nasdaq added 0.98%.

The hospital operator's shares have seen a decrease of 9.87% over the last month, not keeping up with the Medical sector's loss of 3.8% and the S&P 500's gain of 0.34%.

Market participants will be closely following the financial results of Tenet Healthcare in its upcoming release. It is anticipated that the company will report an EPS of $2.93, marking a 9.33% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $5.16 billion, indicating a 4.03% downward movement from the same quarter last year.

THC's full-year Zacks Consensus Estimates are calling for earnings of $11.37 per share and revenue of $20.76 billion. These results would represent year-over-year changes of +62.89% and +1.01%, respectively.

Investors should also take note of any recent adjustments to analyst estimates for Tenet Healthcare. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.05% decrease. As of now, Tenet Healthcare holds a Zacks Rank of #3 (Hold).

Digging into valuation, Tenet Healthcare currently has a Forward P/E ratio of 11.39. This valuation marks a premium compared to its industry's average Forward P/E of 11.37.

One should further note that THC currently holds a PEG ratio of 0.58. 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 0.88 as of yesterday's close.

The Medical - Hospital industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 85, positioning it in the top 34% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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