Zacks: Brokerages Expect CVS Health Corp (NYSE:CVS) to Post $1.77 EPS

Equities research analysts expect CVS Health Corp (NYSE:CVS) to report earnings of $1.77 per share for the current quarter, according to Zacks. Twenty Four analysts have made estimates for CVS Health’s earnings, with the lowest EPS estimate coming in at $1.68 and the highest estimate coming in at $1.80. CVS Health posted earnings per share of $1.73 during the same quarter last year, which indicates a positive year-over-year growth rate of 2.3%. The business is expected to issue its next quarterly earnings results on Tuesday, November 5th.

On average, analysts expect that CVS Health will report full-year earnings of $6.96 per share for the current year, with EPS estimates ranging from $6.85 to $7.00. For the next financial year, analysts expect that the company will report earnings of $7.18 per share, with EPS estimates ranging from $7.05 to $7.38. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for CVS Health.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.19. The firm had revenue of $63.43 billion for the quarter, compared to analysts’ expectations of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.69 earnings per share.

CVS has been the topic of a number of research reports. Evercore ISI set a $63.00 price objective on CVS Health and gave the stock a “buy” rating in a research note on Wednesday, August 7th. TheStreet raised CVS Health from a “c+” rating to a “b-” rating in a research note on Monday. Citigroup lifted their target price on CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Mizuho set a $71.00 target price on CVS Health and gave the stock a “buy” rating in a report on Wednesday, June 5th. Finally, Standpoint Research upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $75.18.

A number of hedge funds and other institutional investors have recently bought and sold shares of CVS. Geode Capital Management LLC grew its position in CVS Health by 36.2% during the 4th quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock worth $1,076,697,000 after purchasing an additional 4,376,604 shares in the last quarter. Lake Street Financial LLC purchased a new position in shares of CVS Health during the first quarter valued at $1,977,000. NuWave Investment Management LLC acquired a new position in CVS Health during the first quarter valued at $159,000. Buckley Wealth Management LLC raised its position in CVS Health by 316.9% during the first quarter. Buckley Wealth Management LLC now owns 47,089 shares of the pharmacy operator’s stock valued at $2,540,000 after buying an additional 35,795 shares during the period. Finally, Augustine Asset Management Inc. lifted its stake in CVS Health by 9.1% in the 1st quarter. Augustine Asset Management Inc. now owns 7,831 shares of the pharmacy operator’s stock worth $422,000 after acquiring an additional 653 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

NYSE CVS traded up $0.39 on Friday, reaching $63.99. 7,119,461 shares of the stock traded hands, compared to its average volume of 10,862,482. CVS Health has a 12 month low of $51.72 and a 12 month high of $82.15. The company has a market cap of $82.82 billion, a price-to-earnings ratio of 9.04, a P/E/G ratio of 1.39 and a beta of 0.85. The firm’s fifty day simple moving average is $59.26 and its 200 day simple moving average is $55.85. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39.

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

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