CVS Caremark Corporation (NYSE:CVS) released its updated earnings report for fiscal year 2012 and its estimates for fiscal year 2013. Shares of the company increased more than 2 percent in morning trades, although the price is starting to settle back just under $49 per share. The company also reported that its board has approved a quarterly dividend increase of 28 percent, or 22.5 cents per share.
Today’s earnings per share guidance report was $3.38 to $3.41 for fiscal year 2012, which is in line with the consensus of economists surveyed by Thomson Reuters, who estimated $3.40 earnings per share. CVS Caremark Corporation (NYSE:CVS) also updated its guidance for fiscal year 2013 to $3.84 to $3.98 earnings per share. That’s significantly higher than analysts’ previous predictions for the company’s fiscal year 2013, which was $3.82 per share.
Gene Marcial called CVS Caremark “the perfect stock for 2013” earlier this week, saying it has everything an investor could want, including a priority that’s shareholder-centric and obsessed with earnings and a profile that combines both value and growth.
Marcial said some companies, like CVS Caremark potentially, have what it takes to become “all-time market stars.” He also said he believes the stock will be one of the top performers next year and compared it to shares of Apple Inc (NASDAQ:AAPL) back when the stock began to grow into the market leader it is today.
Today The Wall Street Journal also listed CVS Caremark as one of its “Stocks to Watch,” along with Best Buy Co., Inc. (NYSE:BBY), which investors expect to be bought out by founder Richard Schulze soon, and Clearwire Corporation (NASDAQ:CLWR), which could be acquired by Sprint Nextel Corp. (NYSE:S)