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CVS Health (CVS) Ascends While Market Falls: Some Facts to Note
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The most recent trading session ended with CVS Health (CVS - Free Report) standing at $58.65, reflecting a +0.19% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.51% for the day. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw a decrease of 0.93%.
The drugstore chain and pharmacy benefits manager's stock has dropped by 3.45% in the past month, falling short of the Retail-Wholesale sector's loss of 2.37% and the S&P 500's loss of 0.26%.
The upcoming earnings release of CVS Health will be of great interest to investors. The company's earnings report is expected on August 7, 2024. The company's upcoming EPS is projected at $1.74, signifying a 21.27% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $91.56 billion, reflecting a 2.96% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $7 per share and a revenue of $368.87 billion, demonstrating changes of -19.91% and +3.1%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for CVS Health. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.23% decrease. CVS Health is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note CVS Health's current valuation metrics, including its Forward P/E ratio of 8.36. This denotes a premium relative to the industry's average Forward P/E of 7.92.
One should further note that CVS currently holds a PEG ratio of 0.56. 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. The Retail - Pharmacies and Drug Stores was holding an average PEG ratio of 0.67 at yesterday's closing price.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 241, placing it within the bottom 5% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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CVS Health (CVS) Ascends While Market Falls: Some Facts to Note
The most recent trading session ended with CVS Health (CVS - Free Report) standing at $58.65, reflecting a +0.19% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.51% for the day. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw a decrease of 0.93%.
The drugstore chain and pharmacy benefits manager's stock has dropped by 3.45% in the past month, falling short of the Retail-Wholesale sector's loss of 2.37% and the S&P 500's loss of 0.26%.
The upcoming earnings release of CVS Health will be of great interest to investors. The company's earnings report is expected on August 7, 2024. The company's upcoming EPS is projected at $1.74, signifying a 21.27% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $91.56 billion, reflecting a 2.96% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $7 per share and a revenue of $368.87 billion, demonstrating changes of -19.91% and +3.1%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for CVS Health. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.23% decrease. CVS Health is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note CVS Health's current valuation metrics, including its Forward P/E ratio of 8.36. This denotes a premium relative to the industry's average Forward P/E of 7.92.
One should further note that CVS currently holds a PEG ratio of 0.56. 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. The Retail - Pharmacies and Drug Stores was holding an average PEG ratio of 0.67 at yesterday's closing price.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 241, placing it within the bottom 5% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.