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CVS Health (CVS) Ascends While Market Falls: Some Facts to Note
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CVS Health (CVS - Free Report) closed the most recent trading day at $69.75, moving +0.52% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq lost 2.05%.
The drugstore chain and pharmacy benefits manager's stock has dropped by 11.35% in the past month, falling short of the Retail-Wholesale sector's loss of 2.7% and the S&P 500's loss of 2.57%.
Analysts and investors alike will be keeping a close eye on the performance of CVS Health in its upcoming earnings disclosure. The company's earnings report is set to go public on May 1, 2024. The company is expected to report EPS of $1.69, down 23.18% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $89.23 billion, indicating a 4.63% upward movement from the same quarter last year.
CVS's full-year Zacks Consensus Estimates are calling for earnings of $8.32 per share and revenue of $370.61 billion. These results would represent year-over-year changes of -4.81% and +3.59%, respectively.
It is also important to note the recent changes to analyst estimates for CVS Health. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.11% lower. CVS Health is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, CVS Health is holding a Forward P/E ratio of 8.34. This signifies a premium in comparison to the average Forward P/E of 5.45 for its industry.
Also, we should mention that CVS has a PEG ratio of 0.92. 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 1.01.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 238, this industry ranks in the bottom 6% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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CVS Health (CVS) Ascends While Market Falls: Some Facts to Note
CVS Health (CVS - Free Report) closed the most recent trading day at $69.75, moving +0.52% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq lost 2.05%.
The drugstore chain and pharmacy benefits manager's stock has dropped by 11.35% in the past month, falling short of the Retail-Wholesale sector's loss of 2.7% and the S&P 500's loss of 2.57%.
Analysts and investors alike will be keeping a close eye on the performance of CVS Health in its upcoming earnings disclosure. The company's earnings report is set to go public on May 1, 2024. The company is expected to report EPS of $1.69, down 23.18% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $89.23 billion, indicating a 4.63% upward movement from the same quarter last year.
CVS's full-year Zacks Consensus Estimates are calling for earnings of $8.32 per share and revenue of $370.61 billion. These results would represent year-over-year changes of -4.81% and +3.59%, respectively.
It is also important to note the recent changes to analyst estimates for CVS Health. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.11% lower. CVS Health is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, CVS Health is holding a Forward P/E ratio of 8.34. This signifies a premium in comparison to the average Forward P/E of 5.45 for its industry.
Also, we should mention that CVS has a PEG ratio of 0.92. 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 1.01.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 238, this industry ranks in the bottom 6% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.