Big changes are happening at Quorum Health Corporation (NYSE:QHC), which makes the stock worth watching today. The company is among the top losers of the stock market today, sinking -3.2% or (-0.02 points) to $0.57 from its previous close of $0.59. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 215018 contracts so far this session. QHC shares had a relatively better volume day versus average trading capacity of 197.41 thousand shares, but with a 25.86 million float and a 4.55% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for QHC stock indicates that the average analyst price target is $1 per share. This means the stock has a potential increase of 75.44% from where the QHC share price has been trading recently which is between $0.57 and $0.61. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $1.
During the recent trading session for Quorum Health Corporation (NYSE:QHC), the company witnessed their stock rise $unch over a week and tumble down $-0.61 from the price 20 days ago. When compared to their established 52-week high of $4.62, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/12/18. The recent low of $0.56 stood for a -87.62% since 11/26/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.69 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for QHC is set at $1, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Quorum Health Corporation, the two-week RSI stands at 27.63. This figure suggests that QHC stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current QHC readings is similarly very revealing as it has a stochastic reading of 5.73% at this stage. This figure means that QHC share price today is being overbought.
Technical chart claims that Quorum Health Corporation (QHC) would settle between $0.61/share to $0.63/share level. However, if the stock price goes below the $0.57 mark, then the market for Quorum Health Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $0.55 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.02. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Morgan Stanley raised their recommendation on shares of QHC from Underweight to Equal-Weight in their opinion released on December 20. Morgan Stanley, analysts launched coverage of Quorum Health Corporation (NYSE:QHC) stock with a Underweight recommendation, according to their flash note issued to investors on June 07. Analysts at Deutsche Bank, made their first call for the equity with a Hold recommendation, according to a research note that dated back to April 05.
QHC equity has an average rating of 3, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated Quorum Health Corporation (NYSE:QHC) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, QHC stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 34.8. Quorum Health Corporation current P/B ratio of 0 means it is trading at a discount against its industry’s 5.
Quorum Health Corporation (QHC)’s current-quarter revenues are projected to climb by nearly -18.3% to hit $374840, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -10.6% from $1.88 billion to a noteworthy $1.68 billion. At the other end of the current quarter income statement, Quorum Health Corporation is expected to see its adjusted earnings surge by roughly 128.1% to hit $0.09 per share. For the fiscal year, QHC’s earnings are projected to climb by roughly -68.9% to hit $-2.77 per share.