CVS Health (CVS) Scheduled to Post Quarterly Earnings on Wednesday

CVS Health (NYSE:CVS) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, November 6th. Analysts expect CVS Health to post 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.Individual interested in participating in the company’s earnings conference call can do so using this link.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. The firm’s quarterly 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 Price Performance

CVS stock opened at $54.65 on Tuesday. The stock has a 50-day moving average price of $59.58 and a two-hundred day moving average price of $59.39. CVS Health has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The company has a market cap of $68.75 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.83 and a beta of 0.55.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 47.33%.

Wall Street Analyst Weigh In

CVS has been the topic of a number of recent research reports. Truist Financial boosted their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Barclays reduced their price objective on CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, Wells Fargo & Company reduced their price objective on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.11.

About CVS Health

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.