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

CVS Health (NYSE:CVS) issued its 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. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same quarter last year, the firm earned $2.21 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis.

CVS Health Price Performance

NYSE:CVS traded down $4.54 during trading hours on Thursday, reaching $57.07. 22,267,166 shares of the company were exchanged, compared to its average volume of 11,310,879. The company has a market capitalization of $71.79 billion, a P/E ratio of 10.15, a P/E/G ratio of 0.82 and a beta of 0.55. CVS Health has a 1-year low of $52.77 and a 1-year high of $83.25. 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 business has a 50 day moving average of $59.59 and a 200 day moving average of $59.23.

CVS Health Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CVS shares. Evercore ISI raised 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. Barclays reduced their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday. Mizuho dropped their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Finally, Truist Financial upped their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $73.00.

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.