CVS Health Co. (CVS) to Issue Quarterly Dividend of $0.67 on February 3rd

CVS Health Co. (NYSE:CVS) announced a quarterly dividend on Friday, January 3rd,RTT News reports. Investors of record on Thursday, January 23rd will be paid a dividend of 0.665 per share by the pharmacy operator on Monday, February 3rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Thursday, January 23rd.

CVS Health has raised its dividend by an average of 10.0% per year over the last three years. CVS Health has a payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect CVS Health to earn $6.09 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 43.7%.

CVS Health Stock Up 1.5 %

Shares of NYSE CVS opened at $52.72 on Tuesday. CVS Health has a 1 year low of $43.56 and a 1 year high of $80.75. The firm’s 50 day moving average price is $51.34 and its 200 day moving average price is $56.32. The firm has a market cap of $66.35 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.79 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $92.72 billion. During the same quarter last year, the business earned $2.21 earnings per share. CVS Health’s revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health will post 5.22 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler decreased their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Truist Financial decreased their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Mizuho decreased their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Barclays cut their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $68.71.

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.