CVS Health (NYSE:CVS) Posts Earnings Results, Beats Estimates By $0.01 EPS

CVS Health (NYSE:CVS) announced its quarterly earnings results on Wednesday. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01, Briefing.com reports. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 EPS.

CVS Health Price Performance

Shares of NYSE CVS traded down $4.50 during mid-day trading on Thursday, reaching $57.11. The company had a trading volume of 22,279,666 shares, compared to its average volume of 11,310,879. CVS Health has a one year low of $52.77 and a one year high of $83.25. The firm has a market cap of $71.84 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The business’s 50-day simple moving average is $59.59 and its 200 day simple moving average is $59.23.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is currently 47.33%.

Analysts Set New Price Targets

CVS has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price target on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday. Mizuho cut their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. UBS Group upped their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Truist Financial boosted their price target on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.00.

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.