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CVS Health (CVS) Stock Moves -0.63%: What You Should Know
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CVS Health (CVS - Free Report) closed at $69.25 in the latest trading session, marking a -0.63% move from the prior day. This change was narrower than the S&P 500's 1.37% loss on the day. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.
Heading into today, shares of the drugstore chain and pharmacy benefits manager had gained 6.12% over the past month, outpacing the Retail-Wholesale sector's loss of 5.77% and the S&P 500's loss of 4.93% in that time.
Wall Street will be looking for positivity from CVS Health as it approaches its next earnings report date. This is expected to be November 1, 2023. The company is expected to report EPS of $2.12, up 1.44% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $88.2 billion, up 8.67% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.60 per share and revenue of $352.54 billion. These totals would mark changes of -1.04% and +9.33%, respectively, from last year.
Investors should also note any 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% lower. 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 8.1 right now. Its industry sports an average Forward P/E of 6, so we one might conclude that CVS Health is trading at a premium comparatively.
Meanwhile, CVS's PEG ratio is currently 1.81. 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. Retail - Pharmacies and Drug Stores stocks are, on average, holding a PEG ratio of 1.51 based on yesterday's closing prices.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 -0.63%: What You Should Know
CVS Health (CVS - Free Report) closed at $69.25 in the latest trading session, marking a -0.63% move from the prior day. This change was narrower than the S&P 500's 1.37% loss on the day. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.
Heading into today, shares of the drugstore chain and pharmacy benefits manager had gained 6.12% over the past month, outpacing the Retail-Wholesale sector's loss of 5.77% and the S&P 500's loss of 4.93% in that time.
Wall Street will be looking for positivity from CVS Health as it approaches its next earnings report date. This is expected to be November 1, 2023. The company is expected to report EPS of $2.12, up 1.44% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $88.2 billion, up 8.67% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.60 per share and revenue of $352.54 billion. These totals would mark changes of -1.04% and +9.33%, respectively, from last year.
Investors should also note any 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% lower. 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 8.1 right now. Its industry sports an average Forward P/E of 6, so we one might conclude that CVS Health is trading at a premium comparatively.
Meanwhile, CVS's PEG ratio is currently 1.81. 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. Retail - Pharmacies and Drug Stores stocks are, on average, holding a PEG ratio of 1.51 based on yesterday's closing prices.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.