CVS Health (NYSE:CVS) Releases FY20 Earnings Guidance

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

Several research firms have commented on CVS. SVB Leerink increased their price objective on shares of CVS Health from $72.00 to $73.00 and gave the company a market perform rating in a report on Thursday, August 6th. Royal Bank of Canada reissued a buy rating on shares of CVS Health in a report on Thursday, July 9th. Credit Suisse Group upped 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. Finally, Deutsche Bank decreased their target price 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. CVS Health currently has a consensus rating of Buy and an average price target of $82.60.

NYSE CVS opened at $57.97 on Tuesday. The company has a fifty day simple moving average of $62.89 and a two-hundred day simple moving average of $62.41. The stock has a market cap of $75.87 billion, a P/E ratio of 9.22, a P/E/G ratio of 1.42 and a beta of 0.67. CVS Health has a 12-month low of $52.04 and a 12-month high of $77.03. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 0.93.

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

About CVS Health

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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