CVS Health Co. (NYSE:CVS) Announces Quarterly Dividend of $0.67

CVS Health Co. (NYSE:CVS) declared a quarterly dividend on Friday, January 3rd,RTT News reports. Shareholders of record on Thursday, January 23rd will be given a dividend of 0.665 per share by the pharmacy operator on Monday, February 3rd. This represents a $2.66 annualized dividend and a yield of 5.81%.

CVS Health has raised its dividend by an average of 6.6% annually over the last three years. CVS Health has a payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings. Analysts expect CVS Health to earn $6.22 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 42.8%.

CVS Health Trading Up 3.5 %

NYSE CVS opened at $45.77 on Friday. The business’s fifty day moving average is $53.05 and its 200-day moving average is $57.21. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a market capitalization of $57.60 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 0.85 and a beta of 0.54. CVS Health has a one year low of $43.56 and a one year high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the previous year, the company earned $2.21 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts predict that CVS Health will post 5.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Mizuho decreased their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Tuesday, December 3rd. Evercore ISI increased their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Piper Sandler lowered their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $67.00 price objective (down from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.12.

About CVS Health

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.