CVS Caremark Corp. Coverage Initiated at FBR Capital Markets (CVS)
Equities research analysts at FBR Capital Markets started coverage on shares of CVS Caremark Corp. (NYSE:CVS) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $69.00 price target on the stock. FBR Capital Markets’ price target suggests a potential upside of 12.36% from the company’s current price.
CVS Caremark Corp. (NYSE:CVS) traded down 1.06% on Thursday, hitting $61.41. 5,450,193 shares of the company’s stock traded hands. CVS Caremark Corp. has a 1-year low of $44.33 and a 1-year high of $62.36. The stock’s 50-day moving average is $59.40 and its 200-day moving average is $57.83. The company has a market cap of $75.350 billion and a price-to-earnings ratio of 18.42.
CVS Caremark Corp. (NYSE:CVS) last announced its earnings results on Tuesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.96 by $0.01. The company had revenue of $31.25 billion for the quarter, compared to the consensus estimate of $31.13 billion. During the same quarter last year, the company posted $0.81 earnings per share. CVS Caremark Corp.’s revenue was up 1.7% compared to the same quarter last year. Analysts expect that CVS Caremark Corp. will post $3.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Investors of record on Monday, October 21st will be paid a dividend of $0.23 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Thursday, October 17th.
In other CVS Caremark Corp. news, SVP Eva C. Boratto unloaded 11,053 shares of CVS Caremark Corp. stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $60.50, for a total value of $668,706.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group initiated coverage on shares of CVS Caremark Corp. in a research note to investors on Monday, October 7th. They set a “buy” rating and a $71.00 price target on the stock. Separately, analysts at Cowen and Company initiated coverage on shares of CVS Caremark Corp. in a research note to investors on Friday, September 13th. They set a “market perform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of CVS Caremark Corp. in a research note to investors on Wednesday, August 28th. They now have a $61.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $63.72.
CVS Caremark Corporation (NYSE:CVS), together with its subsidiaries, is a pharmacy health care provider in the United States.
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