CVS Health (CVS) Set to Announce Earnings on Wednesday

CVS Health (NYSE:CVS - Get Free Report) is set to issue its quarterly earnings data 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.Parties interested in listening to the company's conference call can do so using this link.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts' consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 EPS. 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 Performance

The company has a market cap of $70.79 billion, a P/E ratio of 9.89, a P/E/G ratio of 0.84 and a beta of 0.54. The firm's fifty day simple moving average is $59.73 and its two-hundred day simple moving average is $59.67. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health has a twelve month low of $52.77 and a twelve month high of $83.25.

CVS Health Dividend Announcement

The firm 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. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of ∞. CVS Health's dividend payout ratio is currently 46.75%.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of recent research reports. TD Cowen upgraded shares of CVS Health from a "hold" rating to a "buy" rating and raised their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. Wells Fargo & Company lifted their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an "equal weight" rating in a report on Monday, August 12th. Truist Financial lifted their target price on shares of CVS Health from $66.00 to $76.00 and gave the stock a "buy" rating in a report on Friday, October 11th. Mizuho dropped their price objective on shares of CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $64.00 to $63.00 and set a "hold" rating on the stock in a report on Friday, August 9th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.