CVS Health (NYSE:CVS) Updates FY20 Earnings Guidance

CVS Health (NYSE:CVS) updated its FY20 earnings guidance on Tuesday. The company provided EPS guidance of $7.14-7.27 for the period, compared to the Thomson Reuters consensus EPS estimate of $7.23. CVS Health also updated its FY 2020
Pre-Market guidance to 7.14-7.27 EPS.

Shares of CVS stock opened at $58.33 on Tuesday. The firm has a market cap of $75.87 billion, a P/E ratio of 9.22, a PEG ratio of 1.42 and a beta of 0.67. The company has a 50 day moving average of $62.89 and a 200-day moving average of $62.41. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 0.93. CVS Health has a 12-month low of $52.04 and a 12-month high of $77.03.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 5th. The pharmacy operator reported $2.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.71. CVS Health had a return on equity of 16.32% and a net margin of 3.13%. The business had revenue of $65.30 billion during the quarter, compared to analyst estimates of $64.29 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts expect that CVS Health will post 7.23 EPS for the current year.

CVS has been the subject of several research analyst reports. Royal Bank of Canada reissued a buy rating on shares of CVS Health in a research note on Thursday, July 9th. Deutsche Bank decreased their price objective on shares of CVS Health from $109.00 to $104.00 and set a buy rating on the stock in a research report on Thursday, August 6th. SVB Leerink raised their target price on shares of CVS Health from $72.00 to $73.00 and gave the company a market perform rating in a research note on Thursday, August 6th. Finally, Credit Suisse Group lifted their target price on shares of CVS Health from $75.00 to $90.00 and gave the company an outperform rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. CVS Health presently has an average rating of Buy and a consensus price target of $82.60.

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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