Brokerages Expect CVS Health Corp (NYSE:CVS) to Post $1.68 EPS

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Equities analysts expect CVS Health Corp (NYSE:CVS) to report earnings of $1.68 per share for the current quarter, according to Zacks. Twenty Five analysts have made estimates for CVS Health’s earnings. The lowest EPS estimate is $1.65 and the highest is $1.75. CVS Health reported earnings of $2.14 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 21.5%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 19th.

On average, analysts expect that CVS Health will report full year earnings of $7.02 per share for the current year, with EPS estimates ranging from $6.95 to $7.10. For the next year, analysts expect that the business will post earnings of $7.15 per share, with EPS estimates ranging from $7.05 to $7.31. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for CVS Health.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.07. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. The business had revenue of $64.81 billion during the quarter, compared to analysts’ expectations of $62.99 billion. During the same quarter in the previous year, the firm earned $1.73 EPS. The firm’s revenue was up 36.5% compared to the same quarter last year.

A number of research analysts have recently commented on CVS shares. ValuEngine upgraded CVS Health from a “sell” rating to a “hold” rating in a report on Wednesday. SunTrust Banks raised their price objective on shares of CVS Health to $85.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada started coverage on shares of CVS Health in a research report on Friday, September 27th. They set an “outperform” rating and a $85.00 target price on the stock. Morgan Stanley upped their target price on shares of CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Finally, Citigroup increased their price target on shares of CVS Health from $72.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, November 7th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $77.14.

NYSE CVS traded up $0.88 during trading on Friday, hitting $75.36. The company’s stock had a trading volume of 5,103,415 shares, compared to its average volume of 9,826,463. The company has a quick ratio of 0.61, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The firm has a 50 day moving average price of $71.11 and a 200 day moving average price of $61.27. The firm has a market cap of $97.92 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 1.62 and a beta of 0.88. CVS Health has a 52 week low of $51.72 and a 52 week high of $77.03.

In other news, EVP Troyen A. Brennan sold 23,604 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $68.00, for a total value of $1,605,072.00. Following the completion of the transaction, the executive vice president now owns 107,921 shares in the company, valued at approximately $7,338,628. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Joshua Matthew Flum sold 17,703 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the completion of the transaction, the executive vice president now owns 36,163 shares of the company’s stock, valued at approximately $2,278,269. The disclosure for this sale can be found here. Insiders have sold 129,580 shares of company stock worth $9,259,536 in the last quarter. Corporate insiders own 0.53% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CVS. Vanguard Group Inc. grew its position in CVS Health by 1.2% in the second quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock valued at $5,578,027,000 after acquiring an additional 1,167,143 shares during the period. Northern Trust Corp boosted its stake in shares of CVS Health by 1.1% in the 2nd quarter. Northern Trust Corp now owns 18,328,099 shares of the pharmacy operator’s stock valued at $998,699,000 after purchasing an additional 205,275 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of CVS Health by 10.9% in the 2nd quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock worth $757,707,000 after purchasing an additional 1,372,275 shares during the last quarter. Morgan Stanley grew its holdings in shares of CVS Health by 12.8% in the 2nd quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock worth $750,088,000 after purchasing an additional 1,560,142 shares during the last quarter. Finally, Veritas Asset Management LLP grew its holdings in shares of CVS Health by 0.7% in the 2nd quarter. Veritas Asset Management LLP now owns 12,269,758 shares of the pharmacy operator’s stock worth $668,579,000 after purchasing an additional 90,700 shares during the last quarter. 76.74% of the stock is currently owned by institutional investors and hedge funds.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

Further Reading: Dead Cat Bounce

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Earnings History and Estimates for CVS Health (NYSE:CVS)

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