CVS Health (NYSE:CVS) Issues Earnings Results

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

CVS Health Stock Performance

CVS Health stock opened at $57.11 on Friday. The stock’s 50 day moving average is $59.59 and its 200 day moving average is $59.23. The company has a market capitalization of $71.84 billion, a P/E ratio of 14.49, a PEG ratio of 0.82 and a beta of 0.55. CVS Health has a twelve month low of $52.77 and a twelve month high of $83.25. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.66%. CVS Health’s payout ratio is 67.51%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target 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. Wells Fargo & Company decreased their target price on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and upped their price target for the company from $59.00 to $85.00 in a research report on Friday, October 4th. UBS Group boosted their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Evercore ISI raised their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.