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CVS Health (CVS) Stock Moves -0.73%: What You Should Know
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CVS Health (CVS - Free Report) closed the most recent trading day at $90.99, moving -0.73% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.8%. Elsewhere, the Dow lost 0.3%, while the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the drugstore chain and pharmacy benefits manager had lost 8.13% over the past month, lagging the Retail-Wholesale sector's loss of 7.11% and the S&P 500's loss of 5.13% in that time.
Investors will be hoping for strength from CVS Health as it approaches its next earnings release, which is expected to be November 2, 2022. On that day, CVS Health is projected to report earnings of $1.99 per share, which would represent year-over-year growth of 1.02%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $76.53 billion, up 3.7% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.54 per share and revenue of $311.69 billion, which would represent changes of +1.67% and +6.7%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CVS Health. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CVS Health is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that CVS Health has a Forward P/E ratio of 10.74 right now. Its industry sports an average Forward P/E of 7.41, so we one might conclude that CVS Health is trading at a premium comparatively.
It is also worth noting that CVS currently has a PEG ratio of 1.4. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Retail - Pharmacies and Drug Stores industry currently had an average PEG ratio of 1.44 as of yesterday's close.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 216, which puts it in the bottom 15% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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CVS Health (CVS) Stock Moves -0.73%: What You Should Know
CVS Health (CVS - Free Report) closed the most recent trading day at $90.99, moving -0.73% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.8%. Elsewhere, the Dow lost 0.3%, while the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the drugstore chain and pharmacy benefits manager had lost 8.13% over the past month, lagging the Retail-Wholesale sector's loss of 7.11% and the S&P 500's loss of 5.13% in that time.
Investors will be hoping for strength from CVS Health as it approaches its next earnings release, which is expected to be November 2, 2022. On that day, CVS Health is projected to report earnings of $1.99 per share, which would represent year-over-year growth of 1.02%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $76.53 billion, up 3.7% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.54 per share and revenue of $311.69 billion, which would represent changes of +1.67% and +6.7%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CVS Health. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CVS Health is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that CVS Health has a Forward P/E ratio of 10.74 right now. Its industry sports an average Forward P/E of 7.41, so we one might conclude that CVS Health is trading at a premium comparatively.
It is also worth noting that CVS currently has a PEG ratio of 1.4. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Retail - Pharmacies and Drug Stores industry currently had an average PEG ratio of 1.44 as of yesterday's close.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 216, which puts it in the bottom 15% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.