CVS Health Corp (NYSE:CVS) declared 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 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Wednesday, July 24th.
CVS Health has raised its dividend payment by an average of 12.6% annually over the last three years. CVS Health has a payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 $55.94 on Monday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.95 and a quick ratio of 0.64. CVS Health has a 1 year low of $51.72 and a 1 year high of $82.15. The firm has a market cap of $72.67 billion, a P/E ratio of 7.90, a P/E/G ratio of 1.26 and a beta of 0.88. The stock’s 50 day moving average is $54.78.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.12. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. The firm had revenue of $61.65 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the previous year, the firm posted $1.48 EPS. The company’s quarterly revenue was up 34.8% compared to the same quarter last year. As a group, equities research analysts expect that CVS Health will post 6.84 earnings per share for the current fiscal year.
CVS has been the topic of a number of recent analyst reports. Barclays set a $325.00 price objective on shares of Align Technology and gave the stock a “buy” rating in a report on Thursday, April 11th. BMO Capital Markets set a $66.00 price objective on shares of CyrusOne and gave the stock a “buy” rating in a report on Friday, May 3rd. Bank of America set a $25.00 price objective on shares of Bed Bath & Beyond and gave the stock a “buy” rating in a report on Wednesday, April 10th. Credit Suisse Group restated a “sell” rating and issued a $6.50 target price on shares of Deutsche Bank in a research note on Monday, April 29th. Finally, Raymond James restated an “average” rating and issued a $10.50 target price on shares of Hudbay Minerals in a research note on Thursday, April 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. CVS Health currently has a consensus rating of “Buy” and a consensus target price 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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