CVS Health (CVS) Scheduled to Post Earnings on Wednesday

CVS Health (NYSE:CVS) will announce its earnings results before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of $1.08 per share for the quarter. CVS Health has set its FY24 guidance at $6.40-6.65 EPS and its FY 2024 guidance at 6.400-6.650 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same quarter last year, the business earned $2.21 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. On average, analysts expect CVS Health to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

CVS Health Trading Down 1.2 %

CVS opened at $55.81 on Monday. The stock has a market cap of $70.21 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.83 and a beta of 0.55. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a fifty day moving average of $59.66 and a 200-day moving average of $59.49.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 47.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CVS shares. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Evercore ISI boosted their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Barclays dropped their target price on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, Wells Fargo & Company upped their price objective on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.17.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.