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

CVS Health (NYSE:CVS) released its quarterly earnings data on Wednesday. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01, Briefing.com reports. The firm had revenue of $95.43 billion for 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%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.21 earnings per share.

CVS Health Trading Down 7.3 %

Shares of CVS traded down $4.50 during trading on Thursday, reaching $57.11. 22,279,666 shares of the company traded hands, compared to its average volume of 11,310,879. The stock has a 50-day simple moving average of $59.59 and a 200-day simple moving average of $59.23. The stock has a market cap of $71.84 billion, a PE ratio of 10.15, a price-to-earnings-growth 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 Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Barclays lowered their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday. 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial boosted their price objective on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, UBS Group raised their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target 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.