Cardinal Health, Inc. (CAH) to Issue Quarterly Dividend of $0.51 on July 15th

Cardinal Health, Inc. (NYSE:CAH) declared a quarterly dividend on Tuesday, May 7th, RTT News reports. Shareholders of record on Monday, July 1st will be given a dividend of 0.5056 per share on Monday, July 15th. This represents a $2.02 annualized dividend and a yield of 2.08%. The ex-dividend date is Monday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50.

Cardinal Health has raised its dividend by an average of 1.0% annually over the last three years and has increased its dividend annually for the last 27 consecutive years. Cardinal Health has a payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cardinal Health to earn $7.58 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 26.4%.

Cardinal Health Stock Performance

NYSE CAH opened at $97.45 on Thursday. The firm has a market cap of $23.74 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 1.01 and a beta of 0.71. The firm has a 50 day simple moving average of $108.38 and a 200-day simple moving average of $105.21. Cardinal Health has a one year low of $80.90 and a one year high of $116.04.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. During the same quarter last year, the company posted $1.74 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities analysts predict that Cardinal Health will post 7.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reduced their price target on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Robert W. Baird dropped their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. UBS Group boosted their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, Evercore ISI raised their price target on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.00.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.