Equities analysts expect Cardinal Health Inc (NYSE:CAH) to post $36.96 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Cardinal Health’s earnings, with the lowest sales estimate coming in at $36.80 billion and the highest estimate coming in at $37.40 billion. Cardinal Health posted sales of $35.21 billion in the same quarter last year, which suggests a positive year over year growth rate of 5%. The company is scheduled to report its next quarterly earnings report on Thursday, November 14th.
On average, analysts expect that Cardinal Health will report full year sales of $151.96 billion for the current financial year, with estimates ranging from $148.66 billion to $153.47 billion. For the next fiscal year, analysts expect that the firm will report sales of $158.68 billion, with estimates ranging from $154.73 billion to $160.85 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Cardinal Health.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.18. The business had revenue of $37.35 billion during the quarter, compared to analyst estimates of $36.70 billion. Cardinal Health had a net margin of 0.94% and a return on equity of 25.96%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share.
CAH has been the subject of a number of research reports. ValuEngine raised shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Thursday, May 9th. Guggenheim raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $50.00 to $52.00 in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Cardinal Health has an average rating of “Hold” and a consensus target price of $55.00.
Institutional investors have recently added to or reduced their stakes in the business. Strategic Wealth Advisors Group LLC boosted its holdings in shares of Cardinal Health by 1.1% during the first quarter. Strategic Wealth Advisors Group LLC now owns 19,131 shares of the company’s stock valued at $938,000 after acquiring an additional 216 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Cardinal Health by 9.4% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,610 shares of the company’s stock valued at $126,000 after acquiring an additional 224 shares during the period. MML Investors Services LLC boosted its holdings in shares of Cardinal Health by 1.2% during the second quarter. MML Investors Services LLC now owns 19,478 shares of the company’s stock valued at $917,000 after acquiring an additional 225 shares during the period. Rockland Trust Co. boosted its holdings in shares of Cardinal Health by 1.4% during the second quarter. Rockland Trust Co. now owns 16,807 shares of the company’s stock valued at $792,000 after acquiring an additional 231 shares during the period. Finally, Point View Wealth Management Inc. boosted its holdings in shares of Cardinal Health by 3.1% during the first quarter. Point View Wealth Management Inc. now owns 7,641 shares of the company’s stock valued at $368,000 after acquiring an additional 233 shares during the period. 88.38% of the stock is owned by hedge funds and other institutional investors.
Cardinal Health stock traded down $0.46 during mid-day trading on Friday, reaching $43.30. The company’s stock had a trading volume of 1,290,826 shares, compared to its average volume of 3,267,475. The firm has a market cap of $13.05 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 1.45 and a beta of 1.28. The business has a 50 day moving average price of $45.36 and a 200-day moving average price of $47.45. The company has a current ratio of 1.07, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Cardinal Health has a twelve month low of $41.03 and a twelve month high of $58.31.
Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
Further Reading: Cost of Capital Explained
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.