CVS Health Corporation (CVS) Expected to Post Earnings of $1.49 Per Share
Equities analysts expect that CVS Health Corporation (NYSE:CVS) will post earnings per share of $1.49 for the current quarter, according to Zacks. Twenty analysts have made estimates for CVS Health Corporation’s earnings. The highest EPS estimate is $1.51 and the lowest is $1.47. CVS Health Corporation reported earnings per share of $1.64 during the same quarter last year, which would indicate a negative year over year growth rate of 9.1%. The business is expected to announce its next quarterly earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that CVS Health Corporation will report full year earnings of $5.88 per share for the current financial year, with EPS estimates ranging from $5.83 to $5.92. For the next financial year, analysts expect that the firm will post earnings of $6.35 per share, with EPS estimates ranging from $6.27 to $6.45. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow CVS Health Corporation.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The firm had revenue of $45.69 billion during the quarter, compared to analyst estimates of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 EPS.
CVS has been the subject of several recent research reports. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 target price on shares of CVS Health Corporation in a report on Friday, June 9th. Cowen and Company reiterated an “outperform” rating and set a $86.00 target price on shares of CVS Health Corporation in a report on Tuesday, June 13th. Royal Bank Of Canada initiated coverage on shares of CVS Health Corporation in a report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 target price for the company. ValuEngine lowered shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Leerink Swann set a $90.00 target price on shares of CVS Health Corporation and gave the company a “buy” rating in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. CVS Health Corporation presently has a consensus rating of “Buy” and a consensus target price of $90.58.
Shares of CVS Health Corporation (NYSE CVS) traded up 0.07% during mid-day trading on Friday, reaching $81.32. The company’s stock had a trading volume of 4,118,095 shares. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $90.85. The company has a 50-day moving average of $79.11 and a 200-day moving average of $78.98. The company has a market cap of $82.67 billion, a P/E ratio of 16.20 and a beta of 0.92.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Monday, October 23rd. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.
In other news, COO Jonathan C. Roberts sold 85,743 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $83.14, for a total transaction of $7,128,673.02. Following the completion of the sale, the chief operating officer now owns 119,555 shares of the company’s stock, valued at approximately $9,939,802.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Helena Foulkes sold 39,340 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.88, for a total transaction of $3,221,159.20. Following the sale, the executive vice president now directly owns 84,337 shares of the company’s stock, valued at approximately $6,905,513.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 696,078 shares of company stock valued at $56,650,631. 0.61% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Pathstone Family Office LLC grew its position in shares of CVS Health Corporation by 341.0% during the 2nd quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock valued at $2,353,000 after acquiring an additional 982 shares during the period. Fieldpoint Private Securities LLC grew its position in shares of CVS Health Corporation by 333.3% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares during the period. Mercer Capital Advisers Inc. bought a new stake in shares of CVS Health Corporation during the 1st quarter valued at $118,000. TB Alternative Assets Ltd. bought a new stake in shares of CVS Health Corporation during the 2nd quarter valued at $121,000. Finally, MPS Loria Financial Planners LLC bought a new stake in shares of CVS Health Corporation during the 2nd quarter valued at $119,000. 81.49% of the stock is owned by hedge funds and other institutional investors.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for CVS Health Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health Corporation and related stocks with our FREE daily email newsletter.