CVS Health Co. (NYSE:CVS) to Issue $0.67 Quarterly Dividend

CVS Health Co. (NYSE:CVS) declared a quarterly dividend on Friday, January 3rd,RTT News reports. Stockholders of record on Thursday, January 23rd will be given a dividend of 0.665 per share by the pharmacy operator on Monday, February 3rd. This represents a $2.66 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend is Thursday, January 23rd.

CVS Health has raised its dividend payment by an average of 10.0% annually over the last three years. CVS Health has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Analysts expect CVS Health to earn $6.09 per share next year, which means the company should continue to be able to cover its $2.66 annual dividend with an expected future payout ratio of 43.7%.

CVS Health Trading Up 1.5 %

NYSE CVS opened at $52.72 on Tuesday. CVS Health has a one year low of $43.56 and a one year high of $80.75. The company has a 50-day simple moving average of $51.34 and a 200-day simple moving average of $56.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a market capitalization of $66.35 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.79 and a beta of 0.59.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 EPS. On average, equities analysts forecast that CVS Health will post 5.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CVS shares. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Truist Financial dropped their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays dropped their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, Evercore ISI boosted their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

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.