CVS Health (NYSE:CVS) Releases Q3 Earnings Guidance

CVS Health (NYSE:CVS) updated its third quarter earnings guidance on Friday. The company provided EPS guidance of $1.05-1.10 for the period, compared to the consensus EPS estimate of $1.69. CVS Health also updated its Q3 2024 guidance to 1.050-1.100 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CVS. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Barclays upgraded CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $63.00 to $82.00 in a research note on Thursday, October 10th. Evercore ISI upped their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Truist Financial raised their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.26.

CVS Health Price Performance

Shares of CVS Health stock opened at $60.34 on Friday. The business’s 50-day moving average price is $59.80 and its 200-day moving average price is $60.62. The firm has a market capitalization of $75.75 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. CVS Health has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same period last year, the firm posted $2.21 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Sell-side analysts forecast that CVS Health will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.41%. CVS Health’s dividend payout ratio is currently 46.75%.

CVS Health Company Profile

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.