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CVS Health (CVS) Stock Moves -0.09%: What You Should Know
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The latest trading session saw CVS Health (CVS - Free Report) ending at $45.78, denoting a -0.09% adjustment from its last day's close. This change was narrower than the S&P 500's 1.11% loss on the day. Meanwhile, the Dow experienced a drop of 0.42%, and the technology-dominated Nasdaq saw a decrease of 1.89%.
The the stock of drugstore chain and pharmacy benefits manager has fallen by 18.28% in the past month, lagging the Retail-Wholesale sector's loss of 3.46% and the S&P 500's loss of 1.7%.
Investors will be eagerly watching for the performance of CVS Health in its upcoming earnings disclosure. On that day, CVS Health is projected to report earnings of $1.02 per share, which would represent a year-over-year decline of 51.89%. In the meantime, our current consensus estimate forecasts the revenue to be $97.27 billion, indicating a 3.69% growth compared to the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for CVS Health. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 1.33% lower. CVS Health currently has a Zacks Rank of #5 (Strong Sell).
From a valuation perspective, CVS Health is currently exchanging hands at a Forward P/E ratio of 7.46. This denotes a premium relative to the industry's average Forward P/E of 6.25.
One should further note that CVS currently holds a PEG ratio of 0.68. 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 was holding an average PEG ratio of 0.68 at yesterday's closing price.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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CVS Health (CVS) Stock Moves -0.09%: What You Should Know
The latest trading session saw CVS Health (CVS - Free Report) ending at $45.78, denoting a -0.09% adjustment from its last day's close. This change was narrower than the S&P 500's 1.11% loss on the day. Meanwhile, the Dow experienced a drop of 0.42%, and the technology-dominated Nasdaq saw a decrease of 1.89%.
The the stock of drugstore chain and pharmacy benefits manager has fallen by 18.28% in the past month, lagging the Retail-Wholesale sector's loss of 3.46% and the S&P 500's loss of 1.7%.
Investors will be eagerly watching for the performance of CVS Health in its upcoming earnings disclosure. On that day, CVS Health is projected to report earnings of $1.02 per share, which would represent a year-over-year decline of 51.89%. In the meantime, our current consensus estimate forecasts the revenue to be $97.27 billion, indicating a 3.69% growth compared to the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for CVS Health. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 1.33% lower. CVS Health currently has a Zacks Rank of #5 (Strong Sell).
From a valuation perspective, CVS Health is currently exchanging hands at a Forward P/E ratio of 7.46. This denotes a premium relative to the industry's average Forward P/E of 6.25.
One should further note that CVS currently holds a PEG ratio of 0.68. 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 was holding an average PEG ratio of 0.68 at yesterday's closing price.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.