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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 $66.85, reflecting a +1.33% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.21% for the day. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.05%.
The the stock of drugstore chain and pharmacy benefits manager has risen by 17.57% in the past month, leading the Retail-Wholesale sector's gain of 7.41% and the S&P 500's gain of 5.94%.
Market participants will be closely following the financial results of CVS Health in its upcoming release. The company plans to announce its earnings on November 6, 2024. The company is predicted to post an EPS of $1.69, indicating a 23.53% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $92.83 billion, up 3.42% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.51 per share and revenue of $369.14 billion, indicating changes of -25.51% and +3.18%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for CVS Health. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, CVS Health holds a Zacks Rank of #4 (Sell).
Looking at its valuation, CVS Health is holding a Forward P/E ratio of 10.13. This indicates a premium in contrast to its industry's Forward P/E of 5.33.
We can additionally observe that CVS currently boasts a PEG ratio of 0.93. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Retail - Pharmacies and Drug Stores industry had an average PEG ratio of 0.93.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 248, finds itself in the bottom 2% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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) Ascends While Market Falls: Some Facts to Note
The most recent trading session ended with CVS Health (CVS - Free Report) standing at $66.85, reflecting a +1.33% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.21% for the day. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.05%.
The the stock of drugstore chain and pharmacy benefits manager has risen by 17.57% in the past month, leading the Retail-Wholesale sector's gain of 7.41% and the S&P 500's gain of 5.94%.
Market participants will be closely following the financial results of CVS Health in its upcoming release. The company plans to announce its earnings on November 6, 2024. The company is predicted to post an EPS of $1.69, indicating a 23.53% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $92.83 billion, up 3.42% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.51 per share and revenue of $369.14 billion, indicating changes of -25.51% and +3.18%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for CVS Health. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, CVS Health holds a Zacks Rank of #4 (Sell).
Looking at its valuation, CVS Health is holding a Forward P/E ratio of 10.13. This indicates a premium in contrast to its industry's Forward P/E of 5.33.
We can additionally observe that CVS currently boasts a PEG ratio of 0.93. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Retail - Pharmacies and Drug Stores industry had an average PEG ratio of 0.93.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 248, finds itself in the bottom 2% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.