Community Psychiatric Centers: Shares plunged $3 to...

Community Psychiatric Centers: Shares plunged $3 to $9.50 in New York Stock Exchange trading Friday after the former Orange County company said that its fourth-quarter earnings would not meet analysts’ expectations.

“We said that we thought the estimates were too high and that, basically, analysts should bring them down,” said Community Psychiatric Centers spokeswoman Suzanne S. Hovdey. “We didn’t discuss specific figures, and the fiscal year ends Nov. 30, so we won’t have year-end figures until about January.”

Community Psychiatric Centers, which moved its corporate headquarters to Las Vegas from Laguna Hills this past summer, had traded as high as $19 earlier in the year. About 3.5 million shares traded on Friday.

About 25 of the company’s corporate staff members are still working in Laguna Hills. Those employees will move to Las Vegas by early next year.