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CVS Health (CVS) Stock Moves -0.5%: What You Should Know
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The latest trading session saw CVS Health (CVS - Free Report) ending at $60.03, denoting a -0.5% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 1.37%. Elsewhere, the Dow saw a downswing of 1.21%, while the tech-heavy Nasdaq depreciated by 2.3%.
The the stock of drugstore chain and pharmacy benefits manager has risen by 6.4% in the past month, leading the Retail-Wholesale sector's loss of 0.04% and the S&P 500's gain of 1.11%.
Market participants will be closely following the financial results of CVS Health in its upcoming release. The company plans to announce its earnings 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. Our most recent consensus estimate is calling for quarterly revenue of $91.56 billion, up 2.96% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7 per share and a revenue of $368.87 billion, indicating changes of -19.91% and +3.1%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.23% decrease. As of now, CVS Health holds a Zacks Rank of #4 (Sell).
Investors should also note CVS Health's current valuation metrics, including its Forward P/E ratio of 8.62. This valuation marks a premium compared to its industry's average Forward P/E of 8.33.
We can also see that CVS currently has a PEG ratio of 0.58. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Retail - Pharmacies and Drug Stores industry held an average PEG ratio of 0.71.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 244, putting it in the bottom 4% of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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CVS Health (CVS) Stock Moves -0.5%: What You Should Know
The latest trading session saw CVS Health (CVS - Free Report) ending at $60.03, denoting a -0.5% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 1.37%. Elsewhere, the Dow saw a downswing of 1.21%, while the tech-heavy Nasdaq depreciated by 2.3%.
The the stock of drugstore chain and pharmacy benefits manager has risen by 6.4% in the past month, leading the Retail-Wholesale sector's loss of 0.04% and the S&P 500's gain of 1.11%.
Market participants will be closely following the financial results of CVS Health in its upcoming release. The company plans to announce its earnings 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. Our most recent consensus estimate is calling for quarterly revenue of $91.56 billion, up 2.96% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7 per share and a revenue of $368.87 billion, indicating changes of -19.91% and +3.1%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.23% decrease. As of now, CVS Health holds a Zacks Rank of #4 (Sell).
Investors should also note CVS Health's current valuation metrics, including its Forward P/E ratio of 8.62. This valuation marks a premium compared to its industry's average Forward P/E of 8.33.
We can also see that CVS currently has a PEG ratio of 0.58. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Retail - Pharmacies and Drug Stores industry held an average PEG ratio of 0.71.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 244, putting it in the bottom 4% of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.