In the latest trading session, Tenet Healthcare (THC) closed at $55.62, marking a +0.07% move from the previous day. This change lagged the S&P 500's 1.04% gain on the day. At the same time, the Dow added 0.58%, and the tech-heavy Nasdaq gained 2.52%.Heading into today, shares of the hospital operator had gained 11.94% over the past month, outpacing the Medical sector's loss of 5.72% and the S&P 500's loss of 0.15% in that time.THC will be looking to display strength as it nears its next earnings release. On that day, THC is projected to report earnings of $0.72 per share, which would represent a year-over-year decline of 43.75%. Our most recent consensus estimate is calling for quarterly revenue of $4.75 billion, up 5.14% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.48 per share and revenue of $19.38 billion. These totals would mark changes of -5.29% and +9.84%, respectively, from last year.Any recent changes to analyst estimates for THC should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 52.03% higher. THC is holding a Zacks Rank of #2 (Buy) right now.Digging into valuation, THC currently has a Forward P/E ratio of 12.41. This represents a discount compared to its industry's average Forward P/E of 18.29.The Medical - Hospital industry is part of the Medical sector. This group has a Zacks Industry Rank of 89, putting it in the top 35% of all 250+ industries.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.To follow THC in the coming trading sessions, be sure to utilize Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tenet Healthcare Corporation (THC): Free Stock Analysis Report To read this article on Zacks.com click here.