CVS Health (NYSE:CVS) Issues Q3 2024 Earnings Guidance

CVS Health (NYSE:CVS) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.050-1.100 for the period, compared to the consensus earnings per share estimate of 1.700. The company issued revenue guidance of -. CVS Health also updated its Q3 guidance to $1.05-1.10 EPS.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CVS shares. TD Cowen raised 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 research 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 company an “outperform” rating in a research note on Tuesday, October 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $63.00 to $82.00 in a research report on Thursday, October 10th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $75.26.

CVS Health Stock Performance

CVS Health stock opened at $60.35 on Friday. The stock’s 50 day moving average price is $59.80 and its 200 day moving average price is $60.62. CVS Health has a one year low of $52.77 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The firm has a market capitalization of $75.76 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating 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 company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter last year, the business earned $2.21 earnings per share. CVS Health’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that CVS Health will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.41%. CVS Health’s dividend payout ratio is 46.75%.

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.