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

CVS Health (NYSE:CVS) issued its 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. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. CVS Health’s revenue was up 6.3% on a year-over-year basis.

CVS Health Stock Performance

Shares of CVS Health stock opened at $55.56 on Friday. The business’s fifty day simple moving average is $59.56 and its 200 day simple moving average is $59.19. The company has a current ratio of 0.80, a quick ratio of 0.66 and a debt-to-equity ratio of 0.80. CVS Health has a 12 month low of $52.77 and a 12 month high of $83.25. The firm has a market capitalization of $69.89 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55.

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 $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.79%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is presently 67.51%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Wells Fargo & Company reduced their price objective on CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Mizuho lowered their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Finally, UBS Group upped their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.