CVS Health (CVS) Set to Announce Earnings on Wednesday

CVS Health (NYSE:CVS) will post its quarterly earnings results before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of $1.57 per share for the quarter. CVS Health has set its FY24 guidance at $6.40-6.65 EPS and its FY 2024 guidance at 6.400-6.650 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the company earned $2.21 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts expect CVS Health to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

CVS Health Stock Down 1.9 %

Shares of NYSE CVS opened at $56.29 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The stock has a market capitalization of $70.66 billion, a P/E ratio of 9.89, a PEG ratio of 0.84 and a beta of 0.54. The firm’s 50 day simple moving average is $59.73 and its two-hundred day simple moving average is $59.67. CVS Health has a one year low of $52.77 and a one year high of $83.25.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVS. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Wells Fargo & Company lifted their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Evercore ISI lifted their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.58.

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.