Ever bought medicines or cosmetics over the counter? Yes, then you may have walked into one of the 9,652 retail CVS/pharmacy stores of the largest pharmacy healthcare services provider in the U.S.–CVS Health Corporation (CVS - Free Report) . This Rhode Island-based company has more than 900 walk-in medical clinics–CVS/MinuteClinic and currently possesses a customer satisfaction rate of 95%.
Currently, CVS Health has a Zacks Rank #3 (Hold) but that could change following its second quarter 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at $1.31 per share over the last 60 days.CVS Health’s adjusted earnings per share of $1.33 beat this estimate by 1.5% and increased by a penny from the year ago quarter of $1.32.
Revenues: CVS Health posted revenues of $45.6 billion up 4.5% y/y, surpassed the Zacks Consensus Estimate for revenues of $45.3 billion.
Key Stats: For the second quarter CVS Health’s Pharmacy Services segment revenues increased 9.5% year over year to $32.3 billion, while revenues from Retail/LTC segment declined 2.2% year over year to $19.6 billion. During the second quarter, CVS Health opened 27 new retail locations and closed 3 retail locations. Further, the company relocated 10 retail locations. As of Jun 30, 2017, CVS health operated 9,700 retail locations, including pharmacies in Target stores, in 49 states, the District of Columbia, Puerto Rico and Brazil.
Major Factors: Per management, the results were in line with the expectations of the company. Operating profit in the Retail/LTC Segment met expectations while operating profit in the Pharmacy Services Segment exceeded expectations. Also, the company generated substantial free cash flow year-to-date and returned significant value to the shareholders through dividends and share repurchases. The company has also narrowed and raisedthe midpoint of the adjusted EPS guidance for 2017.
Stock Price: Following the earnings release, share prices increased 1.10% in the pre-market trading session.
Check back later for our full write up on this CVS Health earnings report later!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Ever bought medicines or cosmetics over the counter? Yes, then you may have walked into one of the 9,652 retail CVS/pharmacy stores of the largest pharmacy healthcare services provider in the U.S.–CVS Health Corporation (CVS - Free Report) . This Rhode Island-based company has more than 900 walk-in medical clinics–CVS/MinuteClinic and currently possesses a customer satisfaction rate of 95%.
Currently, CVS Health has a Zacks Rank #3 (Hold) but that could change following its second quarter 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at $1.31 per share over the last 60 days.CVS Health’s adjusted earnings per share of $1.33 beat this estimate by 1.5% and increased by a penny from the year ago quarter of $1.32.
Revenues: CVS Health posted revenues of $45.6 billion up 4.5% y/y, surpassed the Zacks Consensus Estimate for revenues of $45.3 billion.
Key Stats: For the second quarter CVS Health’s Pharmacy Services segment revenues increased 9.5% year over year to $32.3 billion, while revenues from Retail/LTC segment declined 2.2% year over year to $19.6 billion. During the second quarter, CVS Health opened 27 new retail locations and closed 3 retail locations. Further, the company relocated 10 retail locations. As of Jun 30, 2017, CVS health operated 9,700 retail locations, including pharmacies in Target stores, in 49 states, the District of Columbia, Puerto Rico and Brazil.
Major Factors: Per management, the results were in line with the expectations of the company. Operating profit in the Retail/LTC Segment met expectations while operating profit in the Pharmacy Services Segment exceeded expectations. Also, the company generated substantial free cash flow year-to-date and returned significant value to the shareholders through dividends and share repurchases. The company has also narrowed and raisedthe midpoint of the adjusted EPS guidance for 2017.
Stock Price: Following the earnings release, share prices increased 1.10% in the pre-market trading session.
Check back later for our full write up on this CVS Health earnings report later!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on CVS - FREE