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

CVS Health Co. (NYSE:CVS) announced a quarterly dividend on Friday, January 3rd,RTT News reports. Stockholders of record on Thursday, January 23rd will be given a dividend of 0.665 per share by the pharmacy operator on Monday, February 3rd. This represents a $2.66 annualized dividend and a dividend 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. Equities research 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 %

CVS opened at $44.40 on Friday. The firm’s 50-day simple moving average is $53.05 and its 200-day simple moving average is $57.21. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health has a twelve month low of $43.56 and a twelve month high of $83.25. The firm has a market cap of $55.87 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 0.85 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. 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 1.36% and a return on equity of 10.72%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 EPS. Equities research analysts anticipate that CVS Health will post 5.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVS. Evercore ISI lifted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Truist Financial reaffirmed a “buy” rating and set a $67.00 price objective (down from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.12.

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.