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CVS Health (CVS) Stock Moves -0.89%: What You Should Know
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CVS Health (CVS - Free Report) closed at $89.30 in the latest trading session, marking a -0.89% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.37%. Elsewhere, the Dow lost 1.35%, while the tech-heavy Nasdaq lost 0.21%.
Heading into today, shares of the drugstore chain and pharmacy benefits manager had lost 11.93% over the past month, lagging the Retail-Wholesale sector's loss of 7.64% and the S&P 500's loss of 6.51% in that time.
CVS Health will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2022. In that report, analysts expect CVS Health to post earnings of $1.99 per share. This would mark year-over-year growth of 1.02%. Meanwhile, our latest consensus estimate is calling for revenue of $76.53 billion, up 3.7% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.54 per share and revenue of $311.69 billion. These totals would mark changes of +1.67% and +6.7%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for CVS Health. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CVS Health is currently a Zacks Rank #2 (Buy).
Investors should also note CVS Health's current valuation metrics, including its Forward P/E ratio of 10.55. Its industry sports an average Forward P/E of 7.36, so we one might conclude that CVS Health is trading at a premium comparatively.
Also, we should mention that CVS has a PEG ratio of 1.37. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Retail - Pharmacies and Drug Stores was holding an average PEG ratio of 1.42 at yesterday's closing price.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CVS in the coming trading sessions, be sure to utilize Zacks.com.
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CVS Health (CVS) Stock Moves -0.89%: What You Should Know
CVS Health (CVS - Free Report) closed at $89.30 in the latest trading session, marking a -0.89% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.37%. Elsewhere, the Dow lost 1.35%, while the tech-heavy Nasdaq lost 0.21%.
Heading into today, shares of the drugstore chain and pharmacy benefits manager had lost 11.93% over the past month, lagging the Retail-Wholesale sector's loss of 7.64% and the S&P 500's loss of 6.51% in that time.
CVS Health will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2022. In that report, analysts expect CVS Health to post earnings of $1.99 per share. This would mark year-over-year growth of 1.02%. Meanwhile, our latest consensus estimate is calling for revenue of $76.53 billion, up 3.7% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.54 per share and revenue of $311.69 billion. These totals would mark changes of +1.67% and +6.7%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for CVS Health. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CVS Health is currently a Zacks Rank #2 (Buy).
Investors should also note CVS Health's current valuation metrics, including its Forward P/E ratio of 10.55. Its industry sports an average Forward P/E of 7.36, so we one might conclude that CVS Health is trading at a premium comparatively.
Also, we should mention that CVS has a PEG ratio of 1.37. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Retail - Pharmacies and Drug Stores was holding an average PEG ratio of 1.42 at yesterday's closing price.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CVS in the coming trading sessions, be sure to utilize Zacks.com.