CVS Health Corp (NYSE:CVS) Announces $0.50 Quarterly Dividend

CVS Health Corp (NYSE:CVS) announced a quarterly dividend on Wednesday, July 10th, RTT News reports. Investors of record on Thursday, July 25th will be paid a dividend of 0.50 per share by the pharmacy operator on Friday, August 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, July 24th.

CVS Health has raised its dividend by an average of 12.6% annually over the last three years. CVS Health has a dividend payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CVS Health to earn $7.10 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 28.2%.

Shares of CVS Health stock opened at $55.48 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $72.67 billion, a price-to-earnings ratio of 7.84, a P/E/G ratio of 1.26 and a beta of 0.88. The firm has a 50 day moving average of $54.98. CVS Health has a fifty-two week low of $51.72 and a fifty-two week high of $82.15.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.12. The business had revenue of $61.65 billion during the quarter, compared to analyst estimates of $60.39 billion. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. CVS Health’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 earnings per share. Equities analysts anticipate that CVS Health will post 6.84 earnings per share for the current fiscal year.

A number of analysts recently weighed in on the stock. Barclays set a $325.00 price target on shares of Align Technology and gave the company a “buy” rating in a report on Thursday, April 11th. Citigroup lowered shares of BCE from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd. UBS Group raised their price target on shares of Tableau Software to $134.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Guggenheim reaffirmed a “sell” rating on shares of Rite Aid in a report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $76.48.

CVS Health Company Profile

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.

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Dividend History for CVS Health (NYSE:CVS)

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