Diversified healthcare company CVS Health (NYSE:CVS) will be reporting earnings this Thursday before market hours. Here’s what to expect.
CVS Health beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $94.59 billion, up 7% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ same-store sales estimates and an impressive beat of analysts’ EPS estimates.
Is CVS Health a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting CVS Health’s revenue to grow 3.2% year on year to $94.11 billion, in line with the 2.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.46 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CVS Health has missed Wall Street’s revenue estimates twice over the last two years.
Looking at CVS Health’s peers in the health insurance providers segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Centene delivered year-on-year revenue growth of 22.4%, beating analysts’ expectations by 11.6%, and Molina Healthcare reported revenues up 15.7%, topping estimates by 4.4%. Centene’s stock price was unchanged after the resultswhile Molina Healthcare was down 16.9%.
Read our full analysis of Centene’s results here and Molina Healthcare’s results here.
Investors in the health insurance providers segment have had fairly steady hands going into earnings, with share prices down 1.8% on average over the last month. CVS Health is down 13% during the same time and is heading into earnings with an average analyst price target of $79.41 (compared to the current share price of $60).
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