Brokerages expect CVS Health Corp (NYSE:CVS) to post earnings of $1.70 per share for the current fiscal quarter, Zacks reports. Twenty Four analysts have provided estimates for CVS Health’s earnings, with the lowest EPS estimate coming in at $1.53 and the highest estimate coming in at $1.79. CVS Health posted earnings per share of $1.73 during the same quarter last year, which suggests a negative year-over-year growth rate of 1.7%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that CVS Health will report full year earnings of $6.90 per share for the current year, with EPS estimates ranging from $6.76 to $7.00. For the next year, analysts forecast that the company will report earnings of $7.15 per share, with EPS estimates ranging from $6.90 to $7.40. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for CVS Health.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.19. The firm had revenue of $63.43 billion during the quarter, compared to the consensus estimate of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.69 earnings per share.
A number of research firms have weighed in on CVS. Standpoint Research upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. UBS Group cut their target price on CVS Health from $74.00 to $67.00 and set a “sell” rating for the company in a research report on Thursday, May 2nd. Credit Suisse Group downgraded CVS Health from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $73.00 to $61.00 in a research report on Monday, April 29th. BMO Capital Markets set a $63.00 target price on CVS Health and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, ValuEngine downgraded CVS Health from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $75.14.
Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in CVS Health by 28.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,790,753 shares of the pharmacy operator’s stock valued at $903,574,000 after purchasing an additional 3,041,266 shares during the last quarter. Geode Capital Management LLC grew its stake in CVS Health by 36.2% in the fourth quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock valued at $1,076,697,000 after purchasing an additional 4,376,604 shares during the last quarter. Game Creek Capital LP grew its stake in CVS Health by 50.0% in the fourth quarter. Game Creek Capital LP now owns 15,000 shares of the pharmacy operator’s stock valued at $983,000 after purchasing an additional 5,000 shares during the last quarter. RBF Capital LLC grew its stake in shares of CVS Health by 10.5% during the fourth quarter. RBF Capital LLC now owns 44,189 shares of the pharmacy operator’s stock worth $2,895,000 after acquiring an additional 4,189 shares during the last quarter. Finally, Hilltop Holdings Inc. grew its stake in shares of CVS Health by 8.3% during the fourth quarter. Hilltop Holdings Inc. now owns 8,577 shares of the pharmacy operator’s stock worth $562,000 after acquiring an additional 659 shares during the last quarter. Institutional investors own 75.20% of the company’s stock.
CVS traded up $0.09 during trading on Wednesday, reaching $61.65. The stock had a trading volume of 9,354,563 shares, compared to its average volume of 11,176,493. The firm has a market capitalization of $80.18 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 1.32 and a beta of 0.90. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39. CVS Health has a 1-year low of $51.72 and a 1-year high of $82.15. The stock has a 50 day moving average of $57.08 and a two-hundred day moving average of $56.37.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Thursday, July 25th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.24%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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