CVS Health Co. (NYSE:CVS) Announces $0.67 Quarterly Dividend

CVS Health Co. (NYSE:CVS) declared a quarterly dividend on Friday, January 3rd,RTT News reports. Investors of record on Thursday, January 23rd will be given a dividend of 0.665 per share by the pharmacy operator on Monday, February 3rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.81%.

CVS Health has raised its dividend by an average of 6.6% per year over the last three years. CVS Health has a dividend payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CVS Health to earn $6.22 per share next year, which means the company should continue to be able to cover its $2.66 annual dividend with an expected future payout ratio of 42.8%.

CVS Health Price Performance

Shares of NYSE CVS opened at $45.77 on Friday. The firm has a 50-day moving average of $52.84 and a two-hundred day moving average of $57.13. The company has a market capitalization of $57.60 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 0.85 and a beta of 0.54. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health has a twelve month low of $43.56 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. As a group, analysts expect that CVS Health will post 5.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of recent analyst reports. TD Cowen boosted their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Piper Sandler cut their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.12.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.