$1.24 EPS Expected for Cardinal Health, Inc. (NYSE:CAH) This Quarter
Analysts expect Cardinal Health, Inc. (NYSE:CAH) to post earnings of $1.24 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Cardinal Health’s earnings. The highest EPS estimate is $1.26 and the lowest is $1.23. Cardinal Health posted earnings of $1.14 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 8.8%. The firm is expected to announce its next quarterly earnings report before the market opens on Wednesday, August 2nd.
On average, analysts expect that Cardinal Health will report full-year earnings of $5.35 per share for the current financial year, with EPS estimates ranging from $5.35 to $5.36. For the next fiscal year, analysts forecast that the business will post earnings of $5.21 per share, with EPS estimates ranging from $5.10 to $5.25. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Cardinal Health.
Cardinal Health (NYSE:CAH) last announced its earnings results on Monday, May 1st. The company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.07. The business had revenue of $31.82 billion during the quarter, compared to analyst estimates of $32.30 billion. Cardinal Health had a return on equity of 25.78% and a net margin of 1.05%. Cardinal Health’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $1.43 EPS.
Several research firms have issued reports on CAH. Credit Suisse Group restated an “outperform” rating and set a $87.00 price target (up from $81.00) on shares of Cardinal Health in a research report on Thursday, July 13th. William Blair lowered shares of Cardinal Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 19th. Barclays PLC restated an “overweight” rating and set a $82.00 price target (down from $88.00) on shares of Cardinal Health in a research report on Saturday, April 22nd. Jefferies Group LLC began coverage on shares of Cardinal Health in a research report on Wednesday, May 17th. They set a “hold” rating and a $77.00 price target for the company. Finally, Leerink Swann set a $72.00 price target on shares of Cardinal Health and gave the company a “hold” rating in a research report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $82.99.
Shares of Cardinal Health (NYSE:CAH) traded down 1.33% on Tuesday, reaching $76.29. The company had a trading volume of 2,052,733 shares. The company’s 50-day moving average is $76.85 and its 200-day moving average is $77.11. The company has a market capitalization of $24.10 billion, a PE ratio of 17.54 and a beta of 0.81. Cardinal Health has a one year low of $62.70 and a one year high of $85.52.
The business also recently declared a quarterly dividend, which was paid on Saturday, July 15th. Investors of record on Monday, July 3rd were paid a $0.4624 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.45. This represents a $1.85 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Thursday, June 29th. Cardinal Health’s dividend payout ratio is presently 44.05%.
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In related news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $72.87, for a total value of $1,695,684.90. Following the completion of the transaction, the insider now directly owns 55,440 shares of the company’s stock, valued at $4,039,912.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.94% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in CAH. RMB Capital Management LLC increased its position in Cardinal Health by 24.9% in the fourth quarter. RMB Capital Management LLC now owns 113,811 shares of the company’s stock worth $8,191,000 after buying an additional 22,716 shares during the last quarter. Pegasus Partners Ltd. increased its position in Cardinal Health by 8.6% in the fourth quarter. Pegasus Partners Ltd. now owns 27,992 shares of the company’s stock worth $2,015,000 after buying an additional 2,215 shares during the last quarter. Teachers Advisors LLC increased its position in Cardinal Health by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 653,880 shares of the company’s stock worth $47,060,000 after buying an additional 5,403 shares during the last quarter. Kentucky Retirement Systems bought a new position in Cardinal Health during the fourth quarter worth about $1,672,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Cardinal Health during the fourth quarter worth about $746,000. 87.52% of the stock is owned by institutional investors.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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