Cardinal Health (NYSE:CAH) Issues Earnings Results

Cardinal Health (NYSE:CAH) announced its earnings results on Thursday. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.13, Briefing.com reports. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. During the same quarter last year, the business earned $1.74 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Cardinal Health updated its FY24 guidance to $7.30-7.40 EPS and its FY25 guidance to at least $7.50 EPS.

Cardinal Health Stock Down 4.0 %

CAH stock opened at $98.91 on Friday. Cardinal Health has a 52-week low of $77.56 and a 52-week high of $116.04. The stock has a market cap of $24.06 billion, a price-to-earnings ratio of 43.96, a price-to-earnings-growth ratio of 0.99 and a beta of 0.71. The business has a fifty day moving average of $109.10 and a two-hundred day moving average of $105.01.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio is presently 88.89%.

Wall Street Analysts Forecast Growth

CAH has been the topic of several research reports. Evercore ISI raised their target price on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research report on Friday. SVB Leerink began coverage on shares of Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 target price on the stock. Robert W. Baird reduced their target price on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday. Wells Fargo & Company lowered their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Finally, Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $105.79.

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.