Zacks: Brokerages Expect CVS Health Corporation (CVS) to Announce $1.90 EPS
Analysts expect CVS Health Corporation (NYSE:CVS) to post earnings of $1.90 per share for the current fiscal quarter, according to Zacks Investment Research. Seventeen analysts have provided estimates for CVS Health’s earnings. The highest EPS estimate is $1.93 and the lowest is $1.88. CVS Health posted earnings of $1.71 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 11.1%. The firm is expected to announce its next quarterly earnings report on Thursday, February 8th.
On average, analysts expect that CVS Health will report full-year earnings of $5.90 per share for the current financial year, with EPS estimates ranging from $5.88 to $5.92. For the next fiscal year, analysts forecast that the business will post earnings of $6.35 per share, with EPS estimates ranging from $6.23 to $6.42. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for CVS Health.
CVS Health (NYSE:CVS) last released its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion during the quarter, compared to analysts’ expectations of $46.17 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 EPS.
Several equities analysts have recently commented on CVS shares. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $95.00 target price on shares of CVS Health in a research note on Monday, October 9th. SunTrust Banks, Inc. set a $85.00 target price on CVS Health and gave the company a “buy” rating in a research note on Thursday, October 12th. Mizuho set a $90.00 target price on CVS Health and gave the company a “buy” rating in a research note on Tuesday, October 24th. Cowen Inc set a $86.00 target price on CVS Health and gave the company a “buy” rating in a research note on Sunday, October 29th. Finally, Needham & Company LLC upgraded CVS Health from a “hold” rating to a “buy” rating and increased their target price for the company from $69.02 to $79.00 in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $85.82.
CVS Health (NYSE CVS) traded down $0.93 during trading on Friday, hitting $70.55. The stock had a trading volume of 2,990,000 shares, compared to its average volume of 9,130,968. The stock has a market cap of $71,466.59, a PE ratio of 12.36, a P/E/G ratio of 1.21 and a beta of 0.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. CVS Health has a 12 month low of $66.45 and a 12 month high of $84.72.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Tuesday, October 24th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.83%. The ex-dividend date was Monday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 41.32%.
In related news, CFO David M. Denton sold 237,078 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the transaction, the chief financial officer now directly owns 141,096 shares in the company, valued at $11,238,296.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.61, for a total value of $7,186,155.87. Following the transaction, the executive vice president now owns 70,102 shares in the company, valued at $5,580,820.22. The disclosure for this sale can be found here. Insiders have sold 714,125 shares of company stock worth $58,119,381 over the last 90 days. 0.61% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of CVS. Vanguard Group Inc. increased its holdings in shares of CVS Health by 1.4% during the second quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock valued at $6,159,825,000 after purchasing an additional 1,056,265 shares during the period. FMR LLC increased its holdings in shares of CVS Health by 22.0% during the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after purchasing an additional 5,446,930 shares during the period. Bank of America Corp DE increased its holdings in shares of CVS Health by 1.8% during the first quarter. Bank of America Corp DE now owns 22,411,957 shares of the pharmacy operator’s stock valued at $1,759,338,000 after purchasing an additional 398,999 shares during the period. Northern Trust Corp increased its holdings in shares of CVS Health by 5.5% during the second quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock valued at $1,256,631,000 after purchasing an additional 807,639 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of CVS Health by 8.4% during the second quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock valued at $1,138,905,000 after purchasing an additional 1,100,373 shares during the period. Institutional investors own 81.42% of the company’s stock.
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CVS Health 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.
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