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CVS Health (CVS) Advances While Market Declines: Some Information for Investors
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The latest trading session saw CVS Health (CVS - Free Report) ending at $73, denoting a +1.4% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 0.07%. On the other hand, the Dow registered a gain of 0.16%, and the technology-centric Nasdaq decreased by 0.36%.
Shares of the drugstore chain and pharmacy benefits manager have depreciated by 8.84% over the course of the past month, underperforming the Retail-Wholesale sector's gain of 1.02% and the S&P 500's gain of 3.05%.
The upcoming earnings release of CVS Health will be of great interest to investors. The company's earnings report is expected on February 7, 2024. The company is expected to report EPS of $1.99, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $90.46 billion, up 7.89% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for CVS Health. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.13% higher. As of now, CVS Health holds a Zacks Rank of #3 (Hold).
Digging into valuation, CVS Health currently has a Forward P/E ratio of 8.44. Its industry sports an average Forward P/E of 7.05, so one might conclude that CVS Health is trading at a premium comparatively.
We can also see that CVS currently has a PEG ratio of 2. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Retail - Pharmacies and Drug Stores industry currently had an average PEG ratio of 1.71 as of yesterday's close.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 111, this industry ranks in the top 45% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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CVS Health (CVS) Advances While Market Declines: Some Information for Investors
The latest trading session saw CVS Health (CVS - Free Report) ending at $73, denoting a +1.4% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 0.07%. On the other hand, the Dow registered a gain of 0.16%, and the technology-centric Nasdaq decreased by 0.36%.
Shares of the drugstore chain and pharmacy benefits manager have depreciated by 8.84% over the course of the past month, underperforming the Retail-Wholesale sector's gain of 1.02% and the S&P 500's gain of 3.05%.
The upcoming earnings release of CVS Health will be of great interest to investors. The company's earnings report is expected on February 7, 2024. The company is expected to report EPS of $1.99, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $90.46 billion, up 7.89% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for CVS Health. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.13% higher. As of now, CVS Health holds a Zacks Rank of #3 (Hold).
Digging into valuation, CVS Health currently has a Forward P/E ratio of 8.44. Its industry sports an average Forward P/E of 7.05, so one might conclude that CVS Health is trading at a premium comparatively.
We can also see that CVS currently has a PEG ratio of 2. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Retail - Pharmacies and Drug Stores industry currently had an average PEG ratio of 1.71 as of yesterday's close.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 111, this industry ranks in the top 45% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.