CVS Health (NYSE:CVS) Issues Q3 2024 Earnings Guidance

by · The Markets Daily

CVS Health (NYSE:CVS – Get Free Report) updated its third quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 1.050-1.100 for the period, compared to the consensus EPS estimate of 1.700. The company issued revenue guidance of -. CVS Health also updated its Q3 guidance to $1.05-1.10 EPS.

CVS Health Price Performance

Shares of CVS stock opened at $60.34 on Friday. The firm has a market cap of $75.75 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.93 and a beta of 0.54. The firm has a fifty day moving average of $59.80 and a two-hundred day moving average of $60.53. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health has a 1-year low of $52.77 and a 1-year high of $83.25.

CVS Health (NYSE:CVS – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same period in the previous year, the company earned $2.21 earnings per share. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts anticipate that CVS Health will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

Analyst Ratings Changes

CVS has been the topic of a number of recent research reports. Truist Financial raised their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their target price 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, Evercore ISI increased their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.26.

View Our Latest Research Report on CVS Health

CVS Health Company Profile

(Get Free Report)

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.

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