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CVS Health (CVS) Stock Moves -1.37%: What You Should Know
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CVS Health (CVS - Free Report) closed the most recent trading day at $105.18, moving -1.37% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.48%. Meanwhile, the Dow lost 1.05%, and the Nasdaq, a tech-heavy index, lost 0.46%.
Heading into today, shares of the drugstore chain and pharmacy benefits manager had gained 0.41% over the past month, outpacing the Retail-Wholesale sector's loss of 2.46% and the S&P 500's gain of 0.08% in that time.
Investors will be hoping for strength from CVS Health as it approaches its next earnings release, which is expected to be May 4, 2022. On that day, CVS Health is projected to report earnings of $2.15 per share, which would represent year-over-year growth of 5.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $75.54 billion, up 9.32% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.24 per share and revenue of $307.26 billion. These totals would mark changes of -1.9% and +5.19%, respectively, from last year.
Any recent changes to analyst estimates for CVS Health should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate has moved 0.31% lower within the past month. CVS Health is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that CVS Health has a Forward P/E ratio of 12.94 right now. For comparison, its industry has an average Forward P/E of 9.21, which means CVS Health is trading at a premium to the group.
Also, we should mention that CVS has a PEG ratio of 1.6. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CVS's industry had an average PEG ratio of 2.07 as of yesterday's close.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 248, putting it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow CVS in the coming trading sessions, be sure to utilize Zacks.com.
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CVS Health (CVS) Stock Moves -1.37%: What You Should Know
CVS Health (CVS - Free Report) closed the most recent trading day at $105.18, moving -1.37% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.48%. Meanwhile, the Dow lost 1.05%, and the Nasdaq, a tech-heavy index, lost 0.46%.
Heading into today, shares of the drugstore chain and pharmacy benefits manager had gained 0.41% over the past month, outpacing the Retail-Wholesale sector's loss of 2.46% and the S&P 500's gain of 0.08% in that time.
Investors will be hoping for strength from CVS Health as it approaches its next earnings release, which is expected to be May 4, 2022. On that day, CVS Health is projected to report earnings of $2.15 per share, which would represent year-over-year growth of 5.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $75.54 billion, up 9.32% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.24 per share and revenue of $307.26 billion. These totals would mark changes of -1.9% and +5.19%, respectively, from last year.
Any recent changes to analyst estimates for CVS Health should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate has moved 0.31% lower within the past month. CVS Health is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that CVS Health has a Forward P/E ratio of 12.94 right now. For comparison, its industry has an average Forward P/E of 9.21, which means CVS Health is trading at a premium to the group.
Also, we should mention that CVS has a PEG ratio of 1.6. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CVS's industry had an average PEG ratio of 2.07 as of yesterday's close.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 248, putting it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow CVS in the coming trading sessions, be sure to utilize Zacks.com.