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Community Health Sys

Community Health Systems Inc is a publicly owned hospital operator in the United States. The company also owns four home health agencies and provides management and consulting services to independent hospitals. The firm derives revenue through a broad range of general and specialized hospital healthcare services and outpatient services.

Community Health Systems

Community Health Systems, Inc. Common Stock

Community Health Systems Inc

Truist Securities analyst David Macdonald maintains Community Health Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) with a Hold and lowers the price target from $5 to $3.5.

News

Price Target

Analyst Ratings

Truist Securities Maintains Hold on Community Health Sys, Lowers Price Target to $3.5

Community Health Systems Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) shares are trading lower by 7% to $3.38 Thursday afternoon. The company announced a definitive agreement to sell its North Carolina Hospital to Duke Health for <a href="https://www.benzinga.com/pressreleases/24/12/b42448292/community-health-systems-announces-definitive-agreement-to-sell-north-carolina-hospital-to-duke-he">approximately $280 million</a>.
What Else: Community Health Systems announced that a subsidiary has entered a definitive agreement to sell the 123-bed Lake Norman Regional Medical Center in Mooresville, N.C., and related businesses to Duke Health for approximately $280 million, pending adjustments. 
The transaction, expected to close in first-quarter 2025, is subject to regulatory approvals and other conditions. The sale aligns with the company&#8217;s previously discussed plans for potential divestitures, as highlighted during its third-quarter 2024 earnings call.
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<h2 class="wp-block-heading">How To Buy CYH Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Community Health Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>)'s case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

Movers

Trading Ideas

Why Community Health Systems (CYH) Stock Is Falling

WIIM

Community Health Systems shares are trading lower. The company announced a definitive agreement to sell its North Carolina Hospital to Duke Health for approximately $280 million.

Community Health Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) announced today that a subsidiary of the Company has signed a definitive agreement to sell 123-bed Lake Norman Regional Medical Center in Mooresville, N.C., and related businesses, to Duke Health for approximately $280 million, subject to certain net working capital and other adjustments.
The transaction is expected to close in the first quarter of 2025, subject to regulatory approvals and closing conditions.
The hospital included in this transaction is among the additional potential divestitures discussed on the Company's third quarter 2024 earnings call and subsequent public appearances.

Asset Sales

Community Health Systems Announces Definitive Agreement To Sell North Carolina Hospital To Duke Health For ~$280M

Over the past five years, Northwest Healthcare has invested approximately $200 million in strategic growth and capital projects throughout the Greater Tucson Metro area, including two new hospitals – Northwest Medical Center Sahuarita and Northwest Medical Center Houghton. The Northwest Healthcare system provided medical care for more than 845,000 patient encounters in 2023.

Health Care

General

Northwest Urgent Care, A Tucson, Arizona, Subsidiary Of Community Health Systems Has Completed The Acquisition Of Certain Urgent Care Centers Owned And Operated By Carbon Health In Arizona

Community Health Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) provided an update on the planned divestiture of Commonwealth Health System in Pennsylvania.
On November 22, 2024, CHS/Community Health Systems, Inc. ("CHS"), a wholly-owned subsidiary of Community Health Systems, Inc. (the "Company"), and WoodBridge Healthcare, Inc. ("WoodBridge") mutually agreed to terminate the Asset Purchase Agreement dated July 30, 2024, as amended (the "Purchase Agreement"), between CHS and certain wholly-owned subsidiaries (the "CHS Selling Entities") and WoodBridge and certain of its affiliates.
Under the terms of the Purchase Agreement (which was previously disclosed on a Current Report on Form 8-K filed by the Company on July 30, 2024), WoodBridge would have acquired substantially all of the assets of, and assumed certain liabilities from, the CHS Selling Entities related to Regional Hospital of Scranton in Scranton, Pennsylvania, Moses Taylor Hospital in Scranton, Pennsylvania, and Wilkes-Barre General Hospital in Wilkes-Barre, Pennsylvania, and certain related businesses.

Contracts

Community Health Systems Provides Update Regarding Commonwealth Health System; CHS/Community Health Systems And Woodbridge Healthcare Mutually Agreed To Terminate The Asset Purchase Agreement Dated July 30, 2024, As Amended Between CHS And Certain Wholly-Owned Subsidiaries And Woodbridge And Certain Of Its Affiliates.

Wells Fargo analyst Stephen Baxter downgrades Community Health Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) from Equal-Weight to Underweight and lowers the price target from $5 to $2.5.

Downgrades

Wells Fargo Downgrades Community Health Sys to Underweight, Lowers Price Target to $2.5

Community Health Systems To Sell Shorepoint Health System In Florida To AdventHealth For $265M; Deal Includes Port Charlotte And Punta Gorda Facilities, Closing Expected Q1 2025

Community Health Systems shares are trading lower after Raymond James downgraded the stock from Market Perform to Underperform.

Raymond James analyst John Ransom downgrades Community Health Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) from Market Perform to Underperform.

Raymond James Downgrades Community Health Sys to Underperform

Community Health Systems shares are trading lower after Truist Securities maintained a Hold rating on the stock and lowered its price target from $5.5 to $5.

Truist Securities analyst David Macdonald maintains Community Health Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) with a Hold and lowers the price target from $5.5 to $5.

Truist Securities Maintains Hold on Community Health Sys, Lowers Price Target to $5

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite gaining over 100 points on Thursday.
The Dow traded down 0.42% to 42,337.45 while the NASDAQ rose 0.65% to 18,396.30. The S&amp;P 500 also rose, gaining, 0.15% to 5,806.21.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41512422/top-3-tech-stocks-youll-regret-missing-in-q4">Top 3 Tech Stocks You&#8217;ll Regret Missing In Q4</a>
Leading and Lagging Sectors Consumer discretionary shares rose by 3.2% on Thursday.
In trading on Thursday, materials shares fell by 1.4%.
Top Headline
Dow Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) reported better-than-expected third-quarter results.
Sales rose 1% year over year to $10.88 billion, beating the consensus of $10.65 billion, on higher sales in the U.S. and Canada. Adjusted EPS was $0.47, beating the consensus of $0.46.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Nxu, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXU#NASDAQ">NXU</a>) shares shot up 116% to $0.5406. Nxu and Verde Bioresins reported a proposed merger.</li>
<li>Shares of QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>) got a boost, surging 24% to $6.43 after the company said it has begun producing low volumes of its first B-sample cells and has begun shipping cells for automotive customer testing.</li>
<li>Molina Healthcare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>) shares were also up, gaining 20% to $330.40 after the company reported better-than-expected third-quarter financial results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Beyond, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYON#NYSE">BYON</a>) shares dropped 33% to $6.39 after the company reported worse-than-expected third-quarter adjusted EPS and sales.</li>
<li>Shares of Marinus Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNS#NASDAQ">MRNS</a>) were down 82% to $0.3019 after the company announced its Phase 3 TrustTSC trial of Oral Ganaxolone did not meet its primary endpoint.</li>
<li>Community Health Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) was down, falling 23% to $4.29 following third-quarter earnings.</li>
</ul>
Commodities In commodity news, oil traded down 1% to $70.08 while gold traded up 0.7% at $2,748.60.
Silver traded down 0.1% to $33.825 on Thursday, while copper rose 0.6% to $4.3605.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 gained 0.03%, Germany's DAX gained 0.34% and France's CAC 40 rose 0.08%. Spain's IBEX 35 Index fell 0.21%, while London's FTSE 100 rose 0.13%.
The S&amp;P Global UK composite PMI declined to 51.7 in October from 52.6 in September, while Eurozone composite edged higher rose to 49.7 in October versus 49.6 in the previous month.
The HCOB Germany composite PMI increased to 48.4 in October versus 47.5 in September, while French composite PMI slipped to 47.3 in October from 48.6 in September.
Asia Pacific Markets
Asian markets closed mostly lower on Thursday, with Japan's Nikkei 225 gaining 0.10%, Hong Kong's Hang Seng Index falling 1.30%, China's Shanghai Composite Index falling 0.68% and India's BSE Sensex falling 0.02%.
The HSBC India composite PMI rose to 58.6 in October from 58.3 in the prior month. The au Jibun Bank Flash Japan composite PMI declined to 49.4 in October compared to a final reading of 52.0 in September.
Economics
<ul>
<li>The Chicago Fed National Activity Index fell to a reading of -0.28 in September compared to a revised level of -0.01 in August.</li>
<li>U.S. initial jobless claims declined by 15,000 from the prior week to 227,000 during the period ending Oct. 19, compared to market estimates of 242,000.</li>
<li>U.S. building permits declined by 3.1% to an annual rate of 1.425 million in September.</li>
<li>The S&amp;P Global flash manufacturing PMI rose to 47.8 in October versus a 15-month low level of 47.3 in September.</li>
<li>The S&amp;P Global services PMI increased to 55.3 in October from 55.2 in the prior month.</li>
<li>Sales of new single-family homes in the U.S. surged 4.1% to an annual rate of 738,000 in September.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41516316/jim-cramer-says-he-would-not-buy-this-health-care-stock-at-this-level-wait-for-a-pullbac">Jim Cramer Says He Would Not Buy This Health Care Stock At This Level: &#8216;Wait For A Pullback&#8217;</a></li>
</ul>

BYON

MRNS

Crude Oil Down 1%; Dow Posts Upbeat Earnings

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining around 0.3% on Thursday.
The Dow traded down 0.72% to 42,206.88 while the NASDAQ rose 0.26% to 18,323.75. The S&amp;P 500 also fell, dropping, 0.16% to 5,788.23.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41512422/top-3-tech-stocks-youll-regret-missing-in-q4">Top 3 Tech Stocks You&#8217;ll Regret Missing In Q4</a>
Leading and Lagging Sectors Consumer discretionary shares rose by 2.6% on Thursday.
In trading on Thursday, materials shares fell by 1.1%.
Top Headline
Shares of Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) fell around 4% on Thursday after the company reported third-quarter results and updated FY24 guidance.
Revenue grew 6% year-over-year (organic: +3%) to $9.728 billion, missing the consensus of $9.901 billion. Adjusted EPS was $2.58 (+8% Y/Y), beating the consensus of $2.50.
For FY24, the company lowered sales guidance to $38.6 billion – $38.8 billion (from $39.1 billion – $39.7 billion prior) versus the consensus of $39.20 billion. Honeywell tightened adjusted EPS guidance to $10.15 – $10.25 (from $10.05 – $10.25) versus the estimate of $10.13.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Nxu, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXU#NASDAQ">NXU</a>) shares shot up 216% to $0.7930. Nxu and Verde Bioresins reported a proposed merger.</li>
<li>Shares of QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>) got a boost, surging 25% to $6.49 after the company said it has begun producing low volumes of its first B-sample cells and has begun shipping cells for automotive customer testing.</li>
<li>Molina Healthcare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>) shares were also up, gaining 22% to $336.39 after the company reported better-than-expected third-quarter financial results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Beyond, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYON#NYSE">BYON</a>) shares dropped 26% to $7.03 after the company reported worse-than-expected third-quarter adjusted EPS and sales.</li>
<li>Shares of Marinus Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNS#NASDAQ">MRNS</a>) were down 80% to $0.3413 after the company announced its Phase 3 TrustTSC trial of Oral Ganaxolone did not meet its primary endpoint.</li>
<li>Community Health Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) was down, falling 23% to $4.2550 following third-quarter earnings.</li>
</ul>
Commodities In commodity news, oil traded down 0.7% to $70.29 while gold traded up 0.4% at $2,741.10.
Silver traded down 0.1% to $33.790 on Thursday, while copper fell 0.1% to $4.3350.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.25%, Germany's DAX gained 0.54% and France's CAC 40 rose 0.27%. Spain's IBEX 35 Index rose 0.12%, while London's FTSE 100 rose 0.28%.
The S&amp;P Global UK composite PMI declined to 51.7 in October from 52.6 in September, while Eurozone composite edged higher rose to 49.7 in October versus 49.6 in the previous month.
The HCOB Germany composite PMI increased to 48.4 in October versus 47.5 in September, while French composite PMI slipped to 47.3 in October from 48.6 in September.
Asia Pacific Markets
Asian markets closed mostly lower on Thursday, with Japan's Nikkei 225 gaining 0.10%, Hong Kong's Hang Seng Index falling 1.30%, China's Shanghai Composite Index falling 0.68% and India's BSE Sensex falling 0.02%.
The HSBC India composite PMI rose to 58.6 in October from 58.3 in the prior month. The au Jibun Bank Flash Japan composite PMI declined to 49.4 in October compared to a final reading of 52.0 in September.
Economics
<ul>
<li>The Chicago Fed National Activity Index fell to a reading of -0.28 in September compared to a revised level of -0.01 in August.</li>
<li>U.S. initial jobless claims declined by 15,000 from the prior week to 227,000 during the period ending Oct. 19, compared to market estimates of 242,000.</li>
<li>U.S. building permits declined by 3.1% to an annual rate of 1.425 million in September.</li>
<li>The S&amp;P Global flash manufacturing PMI rose to 47.8 in October versus a 15-month low level of 47.3 in September.</li>
<li>The S&amp;P Global services PMI increased to 55.3 in October from 55.2 in the prior month.</li>
<li>Sales of new single-family homes in the U.S. surged 4.1% to an annual rate of 738,000 in September.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41516316/jim-cramer-says-he-would-not-buy-this-health-care-stock-at-this-level-wait-for-a-pullbac">Jim Cramer Says He Would Not Buy This Health Care Stock At This Level: &#8216;Wait For A Pullback&#8217;</a></li>
</ul>

Earnings

Equities

Eurozone

Commodities

Markets

Nasdaq Edges Higher; Honeywell Shares Fall After Q3 Results

Barclays analyst Andrew Mok maintains Community Health Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) with a Equal-Weight and raises the price target from $3 to $5.

Barclays Maintains Equal-Weight on Community Health Sys, Raises Price Target to $5

Community Health Systems shares are trading lower following Q3 earnings.

<h3>Gainers</h3>
<ul>
<li>CNS Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNSP#NASDAQ">CNSP</a>) stock rose 16.2% to $0.16 during Wednesday's after-market session. The market value of their outstanding shares is at $5.2 million. </li>
<li>DBV Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBVT#NASDAQ">DBVT</a>) stock rose 9.85% to $0.75. The market value of their outstanding shares is at $71.8 million. </li>
<li>Molina Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>) stock rose 9.45% to $301.0. The company's market cap stands at $17.6 billion. As per the press release, Q3 earnings came out today. </li>
<li>BioVie (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIVI#NASDAQ">BIVI</a>) stock increased by 8.94% to $2.8. The market value of their outstanding shares is at $22.3 million. </li>
<li>Allakos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLK#NASDAQ">ALLK</a>) shares increased by 7.63% to $1.15. The market value of their outstanding shares is at $102.1 million. </li>
<li>Petros Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTPI#NASDAQ">PTPI</a>) stock increased by 7.36% to $0.36. The company's market cap stands at $3.4 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Enveric Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVB#NASDAQ">ENVB</a>) shares decreased by 10.9% to $0.49 during Wednesday's after-market session. The market value of their outstanding shares is at $4.3 million. </li>
<li>Evotec (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVO#NASDAQ">EVO</a>) stock decreased by 8.17% to $3.26. The market value of their outstanding shares is at $1.1 billion. </li>
<li>bioAffinity Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIAF#NASDAQ">BIAF</a>) shares declined by 6.9% to $1.35. The market value of their outstanding shares is at $18.2 million. </li>
<li>Community Health Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) shares declined by 6.67% to $5.18. The market value of their outstanding shares is at $719.7 million. As per the news, the Q3 earnings report came out today. </li>
<li>Mustang Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIO#NASDAQ">MBIO</a>) stock decreased by 6.48% to $0.28. The market value of their outstanding shares is at $10.5 million. </li>
<li>IN8bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INAB#NASDAQ">INAB</a>) stock fell 6.39% to $0.3. The company's market cap stands at $22.0 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ALLK

BIAF

BIVI

CNSP

DBVT

ENVB

INAB

MBIO

PTPI

12 Health Care Stocks Moving In Wednesday's After-Market Session

Community Health Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) reported quarterly losses of $(0.30) per share which missed the analyst consensus estimate of $(0.18) by 66.67 percent. The company reported quarterly sales of $3.09 billion which beat the analyst consensus estimate of $3.08 billion by 0.22 percent. This is a 0.13 percent increase over sales of $3.09 billion the same period last year.

Earnings Beats

Earnings Misses

Community Health Sys Q3 2024 Adj EPS $(0.30) Misses $(0.18) Estimate, Sales $3.09B Beat $3.08B Estimate

Community Health Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) is gearing up to announce its quarterly earnings on Wednesday, 2024-10-23. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Community Health Sys will report an earnings per share (EPS) of $-0.19.
Investors in Community Health Sys are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Performance in Previous Earnings</h3>
During the last quarter, the company reported an EPS missed by $0.05, leading to a 9.93% increase in the share price on the subsequent day.
Here's a look at Community Health Sys's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.12</td>
<td>-0.16</td>
<td>0.06</td>
<td>-0.18</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.17</td>
<td>-0.14</td>
<td>-0.41</td>
<td>-0.33</td>
</tr>
<tr>
<td>Price Change %</td>
<td>10.0%</td>
<td>7.000000000000001%</td>
<td>-28.000000000000004%</td>
<td>-2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729616544_0.png" alt="eps graph" />
<h3>Performance of Community Health Sys Shares</h3>
Shares of Community Health Sys were trading at $5.75 as of October 21. Over the last 52-week period, shares are up 128.72%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<a href="https://www.benzinga.com/quote/CYH/earnings">To track all earnings releases for Community Health Sys visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Look Ahead: Community Health Sys's Earnings Forecast

Insurance, regional banks, fitness centers, utilities, hospitals and theme parks are among the sectors that could be negatively impacted when Hurricane Milton hits Florida Wednesday night or <a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">early </a><a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie">Thursday </a><a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">morning.</a>
Here's a look at some of the sectors and stocks that investors should be watching with Hurricane Milton on the way.
Hurricane Milton Update: According <a href="https://www.nbcnews.com/news/weather/map-hurricane-milton-path-forecast-status-track-rcna174203">to </a>NBC News, <a href="https://www.benzinga.com/topic/hurricane-milton">Hurricane Milton was downgraded </a>to a Category 4 storm on Wednesday morning. The hurricane is expected to make landfall Wednesday night and could hit some of Florida&#8217;s most populous areas, including the Tampa Bay area.
Evacuation orders are in place for multiple Florida counties with government officials warning that failure to follow the orders could lead to casualties.
With evacuations taking place, Florida service stations are running out of gas, and there are concerns about charging electric vehicles on evacuation routes.
The constant changes in the storm's path could have a major effect on the damage and potential casualties. A landfall in the Tampa Bay area is seen as the worst-case scenario for the hurricane, as reported by <a href="https://www.cnn.com/weather/live-news/hurricane-milton-florida-10-09-24/index.html" target="_blank" rel="noopener">CNN</a>.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/10/41239644/hurricane-milton-evacuations-a-matter-of-life-and-death-biden-says-feds-bostic-says-storm-could-">Hurricane Milton Evacuations &#8216;A Matter Of Life And Death,&#8217; Biden Says: Fed&#8217;s Bostic Says Storm Could Have Significant Economic Impact Over Next 6 Months</a>
Regional Banks: DA Davidson analyst Gary Tenner looked at the regional banks that could be most impacted by Hurricane Milton in a new investor note.
"Based on experience, we would expect the banks in the market to be impacted in multiple ways in the post-hurricane period, including a potential deposit boost related to insurance settlements, elevated near term expenses and provision, with lending opportunities related to rebuilding efforts,&#8221; Tenner said.
The analyst said banks in the Tampa and St. Petersburg areas could see near-term increased expenses but could see "positive offsets over the longer term."
Based on market share in the region, Tenner highlights the following regional banks:
<ul>
<li>Regions Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>): Buy rating</li>
<li>Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>): Neutral rating</li>
<li>Synovus Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>): Buy rating</li>
<li>SouthState Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NYSE">SSB</a>): Buy rating</li>
<li>Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>): Buy rating</li>
<li>Hancock Whitney Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWC#NASDAQ">HWC</a>): Buy rating</li>
</ul>
Hospitals Impact: Hospital operators in the Florida region could be negatively impacted by Hurricane Milton and face IV shortages, RBC analyst Ben Hendrix said in a new investor note.
"Hospital operators traded slightly lower on Thursday, which we believe reflects at least in part weather-related concerns as Hurricane Milton moves toward Florida's west coast," Hendrix said.
The analyst said hospitals could see "some disruptions to facilities" in the coming days.
RBC highlights the following hospitals in the report:
<ul>
<li>Community Health Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>): Outperform rating</li>
<li>HCA Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>): Outperform rating</li>
<li>Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>): Outperform rating</li>
<li>Universal Health Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>): Sector Perform rating</li>
</ul>
"We believe HCA may be spared the worst of the storm damage with most of its hospital concentration in Central Florida located in the Tampa Bay area, which is north of the expected Sarasota landfall," Hendrix said.
Utilities Impact: Hurricane Milton could have a negative impact on utility stocks, Scotiabank analyst Andrew Weisel warned investors in a new note.
"While we remain bullish on U.S. utility fundamentals and valuations, we're growing somewhat cautious about investor sentiment, which had finally started to turn positive after years of negativity or indifference," Weisel said.
The analyst said they generally caution against trading around storms like Hurricane Milton.
"Rising hurricane activity is no doubt worrisome."
Weisel said the utility sector has several catalysts like rate cuts and the 2024 election, aside from the hurricane impact.
Top utility picks from Weisel are CMS Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>), WEC Energy Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEC#NYSE">WEC</a>) and DTE Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DTE#NYSE">DTE</a>). After these three top picks, the analyst highlights Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), Alliant Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNT#NASDAQ">LNT</a>) and American Electric Power Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) as other favorable utility names. 
Weisel also said he would buy Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) because of its weakness ahead of Hurricane Milton.
"While outages often lead to lost revenues, slightly weighing on near-term earnings, the impacts are generally very modest," Weisel said.
Another major utility that could be impacted by Hurricane Milton is Tampa Electric, owned by Emera Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EMRAF#OTC">EMRAF</a>). Serving the Tampa Bay area, Tampa Electric is particularly vulnerable to the storm&#8217;s effects.
Insurance Stocks: The insurance sector is one of the sectors most on watch for the damaging impact and cleanup aftermath from Hurricane Milton.
Insurance stocks like Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) and Chubb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) are among the large insurers that could be impacted.
RBC analyst Derald Goh, who covers European insurance stocks, shared a note on the potential damage from the hurricane.
"A potential $60bn industry loss from Hurricane Milton appears very manageable for a sector that is keen to demonstrate stronger earnings resiliency and should drive a re-rating," Goh said.
The $60 billion estimate comes as Hurricane Milton is expected to cause destruction similar to that caused by Hurricane Ian in 2022. Based on the estimated damage from that storm, the analyst considers this estimate the most reliable method for predicting the impact on insurance companies.
Goh said five hurricanes have made landfall in the U.S. this season, and the previous average forecast was 12.
Leisure Sector: Hurricane Milton could also impact theme parks, with the state of Florida home to Disney World, owned by The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), and Universal Studios Orlando, owned by Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>).
Disney announced it is <a href="https://www.benzinga.com/markets/equities/24/10/41245886/disney-world-closes-early-as-hurricane-milton-approaches-florida-parks-brace-for-impact">closing Disney World parks early </a>on Wednesday and transportation services could remain limited, with a plan to re-open on Thursday. The storm may have scared away a large amount of tourists. Goldman Sachs recently said Disney could see a<a href="https://www.benzinga.com/general/entertainment/24/10/41229099/disney-faces-150m-200m-blow-from-hurricane-milton-attendance-set-to-drop-6-says-goldman-sac"> $150 million to $200 million</a> negative impact from Hurricane Milton.
Morgan Stanley analyst Megan Alexander sees Hurricane Milton having a negative impact on fitness centers Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) and Life Time Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTH#NYSE">LTH</a>) and indoor golf facility company Topgolf Callaway Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MODG#NYSE">MODG</a>).
"Overall, PLNT appears to be the most exposed across our coverage particularly given the concentration of corporate locations in the state," Alexander said.
The analyst, who has an Overweight rating and a $84 price target on Planet Fitness, said Florida represents around 25% of corporate-owned locations. Store closures could negatively impact new membership additions, but Alexander added that the monthly membership fee revenue model could insulate the company from a negative impact.
The analyst sees Life Time Group, rated Equal Weight with a $21 price target, having a minimal impact with only five locations in Florida, which is less than 3% of total locations.
Alexander said Topgolf has nine locations in Florida, with five currently closed due to Hurricane Milton. The analyst, who has an Underweight rating and a $10 price target on the stock, said Topgolf will likely see a minimal impact unless locations have severe storm damage and have to be closed for an extended time period.  
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">Hurricane Milton Dire Warning: &#8216;If You Choose To Stay &#8230; You&#8217;re Going To Die,&#8217; Officials Encourage Writing Name On Arm In Permanent Marker For ID</a></li>
</ul>
Image of Hurricane Milton courtesy of NASA.

Analyst Color

Reiteration

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Press Releases

Community Health Systems Announces That Lynn Simon, MD, President, Healthcare Innovation and Chief Medical Officer, Will Retire and Transition Into a Consulting Role at the End of the Year

Community Health Systems' Northwest Healthcare to Acquire 10 Carbon Health Urgent Care Centers in Arizona

Community Health Systems and Denim Health Announce a Development Partnership Designed to Broadly Scale Conversational AI Across the CHS Patient Access Center

Community Health Systems to Webcast Third Quarter 2024 Conference Call

Community Health Systems, Inc. Announces Third Quarter Ended September 30, 2024 Results

Community Health Systems Announces Participation in the 2024 UBS Global Healthcare Conference

Community Health Systems Announces Definitive Agreement to Sell ShorePoint Health System in Florida

Community Health Systems, Inc. Provides Update Regarding Commonwealth Health System

Community Health Systems' Northwest Healthcare Completes Acquisition of Carbon Health Urgent Care Centers in Arizona

Community Health Systems Announces Definitive Agreement to Sell North Carolina Hospital to Duke Health

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