CVS Health (NYSE:CVS) Releases Q3 Earnings Guidance

CVS Health (NYSE:CVS) updated its third quarter earnings guidance on Friday. The company provided EPS guidance of $1.05-1.10 for the period, compared to the consensus EPS estimate of $1.69. CVS Health also updated its Q3 2024 guidance to 1.050-1.100 EPS.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Truist Financial raised their price objective on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Barclays upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $63.00 to $82.00 in a report on Thursday, October 10th. Evercore ISI increased their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.26.

CVS Health Stock Down 5.2 %

CVS Health stock opened at $60.34 on Friday. The firm has a market capitalization of $75.75 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 0.93 and a beta of 0.54. The firm has a 50 day simple moving average of $59.80 and a 200 day simple moving average of $60.53. CVS Health has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same period in the previous year, the company posted $2.21 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts predict that CVS Health will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.41%. CVS Health’s dividend payout ratio is currently 46.75%.

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.