CVS Health Co. (NYSE:CVS) Declares Quarterly Dividend of $0.67

CVS Health Co. (NYSE:CVS) declared a quarterly dividend on Friday, January 3rd,RTT News reports. Shareholders of record on Thursday, January 23rd will be paid a dividend of 0.665 per share by the pharmacy operator on Monday, February 3rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.99%.

CVS Health has raised its dividend by an average of 6.6% per year over the last three years. CVS Health has a payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect CVS Health to earn $6.22 per share next year, which means the company should continue to be able to cover its $2.66 annual dividend with an expected future payout ratio of 42.8%.

CVS Health Stock Down 0.4 %

Shares of NYSE:CVS opened at $44.40 on Friday. The company has a market capitalization of $55.87 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.85 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The business has a fifty day moving average price of $53.05 and a two-hundred day moving average price of $57.21. CVS Health has a 1 year low of $43.56 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 EPS. Analysts forecast that CVS Health will post 5.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CVS shares. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Barclays lowered their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Evercore ISI raised their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, December 3rd. Finally, StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.12.

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.