CVS Health Co. (CVS) to Distribute Quarterly Dividend of $0.67 on February 3rd

CVS Health Co. (NYSE:CVS) declared a quarterly dividend on Friday, January 3rd,RTT News reports. Investors of record on Thursday, January 23rd will be paid a dividend of 0.665 per share by the pharmacy operator on Monday, February 3rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.81%.

CVS Health has raised its dividend payment by an average of 6.6% per year over the last three years. CVS Health has a dividend payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CVS Health to earn $6.22 per share next year, which means the company should continue to be able to cover its $2.66 annual dividend with an expected future payout ratio of 42.8%.

CVS Health Price Performance

CVS stock opened at $45.77 on Friday. The company has a market capitalization of $57.60 billion, a PE ratio of 11.62, a P/E/G ratio of 0.85 and a beta of 0.54. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average is $52.84 and its two-hundred day moving average is $57.13. CVS Health has a 52-week low of $43.56 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 earnings per share. Analysts predict that CVS Health will post 5.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of research analyst reports. UBS Group boosted their price target on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Truist Financial reiterated a “buy” rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. Piper Sandler reduced their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, Royal Bank of Canada cut their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.12.

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.