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CVS Health (CVS) Stock Falls Amid Market Uptick: What Investors Need to Know
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The latest trading session saw CVS Health (CVS - Free Report) ending at $68.97, denoting a -0.03% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.73%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.93%.
Shares of the drugstore chain and pharmacy benefits manager witnessed a loss of 4.93% over the previous month, trailing the performance of the Retail-Wholesale sector with its loss of 3.41% and the S&P 500's loss of 2.29%.
The investment community will be paying close attention to the earnings performance of CVS Health in its upcoming release. The company is slated to reveal its earnings on November 1, 2023. It is anticipated that the company will report an EPS of $2.13, marking a 1.91% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $88.2 billion, up 8.67% from the year-ago period.
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.
It's also important for investors to be aware of any recent modifications 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.04% decrease. CVS Health is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, CVS Health is currently exchanging hands at a Forward P/E ratio of 8.02. This expresses a premium compared to the average Forward P/E of 6.37 of its industry.
Investors should also note that CVS has a PEG ratio of 1.79 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Retail - Pharmacies and Drug Stores industry had an average PEG ratio of 1.53.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 228, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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CVS Health (CVS) Stock Falls Amid Market Uptick: What Investors Need to Know
The latest trading session saw CVS Health (CVS - Free Report) ending at $68.97, denoting a -0.03% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.73%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.93%.
Shares of the drugstore chain and pharmacy benefits manager witnessed a loss of 4.93% over the previous month, trailing the performance of the Retail-Wholesale sector with its loss of 3.41% and the S&P 500's loss of 2.29%.
The investment community will be paying close attention to the earnings performance of CVS Health in its upcoming release. The company is slated to reveal its earnings on November 1, 2023. It is anticipated that the company will report an EPS of $2.13, marking a 1.91% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $88.2 billion, up 8.67% from the year-ago period.
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.
It's also important for investors to be aware of any recent modifications 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.04% decrease. CVS Health is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, CVS Health is currently exchanging hands at a Forward P/E ratio of 8.02. This expresses a premium compared to the average Forward P/E of 6.37 of its industry.
Investors should also note that CVS has a PEG ratio of 1.79 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Retail - Pharmacies and Drug Stores industry had an average PEG ratio of 1.53.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 228, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.