CVS Health Corp (NYSE:CVS) declared a quarterly dividend on Wednesday, July 10th, RTT News reports. Stockholders of record on Thursday, July 25th will be given a dividend of 0.50 per share by the pharmacy operator on Friday, August 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Wednesday, July 24th.

CVS Health has increased its dividend by an average of 12.6% per year over the last three years. CVS Health has a dividend payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect CVS Health to earn $7.10 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 28.2%.

NYSE CVS opened at $55.48 on Tuesday. CVS Health has a 1-year low of $51.72 and a 1-year high of $82.15. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.95 and a quick ratio of 0.64. The firm has a market capitalization of $72.67 billion, a P/E ratio of 7.84, a PEG ratio of 1.26 and a beta of 0.88. The stock has a fifty day moving average of $54.98.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.12. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. The business had revenue of $61.65 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the prior year, the business posted $1.48 earnings per share. CVS Health’s revenue for the quarter was up 34.8% compared to the same quarter last year. Analysts anticipate that CVS Health will post 6.84 EPS for the current fiscal year.

Several equities analysts have commented on the stock. Morgan Stanley increased their target price on shares of Thomson Reuters from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Bank of America set a $25.00 target price on shares of Bed Bath & Beyond and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Cantor Fitzgerald reissued a “buy” rating and set a $60.00 target price on shares of Benefitfocus in a research report on Wednesday, May 1st. Citigroup downgraded shares of BCE from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. Finally, Credit Suisse Group reissued a “sell” rating and set a $6.50 target price on shares of Deutsche Bank in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. CVS Health presently has a consensus rating of “Buy” and a consensus target price of $76.48.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Dividend History for CVS Health (NYSE:CVS)

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