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CVS Health (CVS) Stock Moves -1.28%: What You Should Know
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The most recent trading session ended with CVS Health (CVS - Free Report) standing at $71.09, reflecting a -1.28% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 1.34% for the day. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 1.62%.
The drugstore chain and pharmacy benefits manager's stock has climbed by 0.03% in the past month, exceeding the Retail-Wholesale sector's loss of 4.5% and the S&P 500's loss of 1.57%.
The upcoming earnings release of CVS Health will be of great interest to investors. The company's earnings report is expected on November 1, 2023. The company is forecasted to report an EPS of $2.13, showcasing a 1.91% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $88.2 billion, indicating an 8.67% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.60 per share and a revenue of $352.54 billion, signifying shifts of -1.04% and +9.33%, respectively, from the 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 0.04% lower. CVS Health currently has a Zacks Rank of #3 (Hold).
Looking at valuation, CVS Health is presently trading at a Forward P/E ratio of 8.37. Its industry sports an average Forward P/E of 6.67, so one might conclude that CVS Health is trading at a premium comparatively.
It's also important to note that CVS currently trades at a PEG ratio of 1.87. 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 industry currently had an average PEG ratio of 1.6 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 224, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 -1.28%: What You Should Know
The most recent trading session ended with CVS Health (CVS - Free Report) standing at $71.09, reflecting a -1.28% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 1.34% for the day. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 1.62%.
The drugstore chain and pharmacy benefits manager's stock has climbed by 0.03% in the past month, exceeding the Retail-Wholesale sector's loss of 4.5% and the S&P 500's loss of 1.57%.
The upcoming earnings release of CVS Health will be of great interest to investors. The company's earnings report is expected on November 1, 2023. The company is forecasted to report an EPS of $2.13, showcasing a 1.91% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $88.2 billion, indicating an 8.67% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.60 per share and a revenue of $352.54 billion, signifying shifts of -1.04% and +9.33%, respectively, from the 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 0.04% lower. CVS Health currently has a Zacks Rank of #3 (Hold).
Looking at valuation, CVS Health is presently trading at a Forward P/E ratio of 8.37. Its industry sports an average Forward P/E of 6.67, so one might conclude that CVS Health is trading at a premium comparatively.
It's also important to note that CVS currently trades at a PEG ratio of 1.87. 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 industry currently had an average PEG ratio of 1.6 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 224, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.