CVS Health (NYSE:CVS) Releases Earnings Results, Beats Estimates By $0.01 EPS

CVS Health (NYSE:CVS) released its quarterly earnings data on Wednesday. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01, Briefing.com reports. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 EPS.

CVS Health Price Performance

CVS stock traded down $4.54 during trading on Thursday, hitting $57.07. The company had a trading volume of 22,267,166 shares, compared to its average volume of 11,310,879. CVS Health has a fifty-two week low of $52.77 and a fifty-two week 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 fifty day moving average price of $59.59 and a two-hundred day moving average price of $59.23. The company has a market cap of $71.79 billion, a P/E ratio of 10.15, a P/E/G ratio of 0.82 and a beta of 0.55.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is 47.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and increased their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. Evercore ISI upped their price objective 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. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Mizuho cut their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.