CVS Health Co. (CVS) To Go Ex-Dividend on October 21st

by · The Cerbat Gem

CVS Health Co. (NYSE:CVS – Get Free Report) announced a quarterly dividend on Thursday, September 19th, Wall Street Journal reports. Shareholders of record on Monday, October 21st will be paid a dividend of 0.665 per share by the pharmacy operator on Friday, November 1st. This represents a $2.66 annualized dividend and a yield of 4.41%. The ex-dividend date is Monday, October 21st.

CVS Health has raised its dividend payment by an average of 6.6% annually over the last three years. CVS Health has a payout ratio of 36.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CVS Health to earn $7.27 per share next year, which means the company should continue to be able to cover its $2.66 annual dividend with an expected future payout ratio of 36.6%.

CVS Health Stock Performance

NYSE CVS opened at $60.35 on Friday. CVS Health has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm has a market capitalization of $75.76 billion, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. The stock’s fifty day moving average is $59.80 and its two-hundred day moving average is $60.62. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 EPS. On average, research analysts anticipate that CVS Health will post 6.51 earnings per share for the current year.

Wall Street Analyst Weigh In

CVS has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Truist Financial increased their target price on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Evercore ISI boosted their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Wells Fargo & Company lifted their target price on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Barclays upgraded CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $63.00 to $82.00 in a report on Thursday, October 10th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.26.

Read Our Latest Stock Analysis on CVS Health

About CVS Health

(Get Free Report)

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.

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