Investment analysts at Jefferies Group raised their target price on shares of CVS Caremark (NYSE: CVS) from $54.00 to $58.00 in a note issued to investors on Thursday. The firm currently has a “buy” rating on the stock.
Shares of CVS Caremark traded up 0.78% during mid-day trading on Thursday, hitting $49.13. CVS Caremark has a 52 week low of $40.60 and a 52 week high of $49.80. The company has a market cap of $61.250 billion and a P/E ratio of 16.56.
CVS Caremark last announced its earnings results on Tuesday, November 6th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.01. The company had revenue of $30.23 billion for the quarter, compared to the consensus estimate of $30.09 billion. During the same quarter in 2011, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts predict that CVS Caremark will post $3.40 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, February 4th. Investors of record on Thursday, January 24th will be paid a dividend of $0.23 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Tuesday, January 22nd. This is an increase from CVS Caremark’s previous quarterly dividend of $0.16.
A number of other firms have also recently commented on CVS. Analysts at Barclays Capital reiterated an “overweight” rating on shares of CVS Caremark in a research note to investors on Monday. They now have a $57.00 price target on the stock, up previously from $54.00. Separately, analysts at RBC Capital raised their price target on shares of CVS Caremark from $53.00 to $55.00 in a research note to investors on Friday, December 14th. They now have an “outperform” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of CVS Caremark from $53.00 to $55.00 in a research note to investors on Friday, December 14th. They now have a “buy” rating on the stock.
CVS Caremark Corporation (CVS Caremark), together with its subsidiaries, is a pharmacy health care provider in the United States.
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