Cardinal Health, Inc. (NYSE:CAH) Expected to Announce Earnings of $1.36 Per Share

Equities research analysts expect Cardinal Health, Inc. (NYSE:CAH) to announce $1.36 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Cardinal Health’s earnings, with estimates ranging from $1.28 to $1.41. Cardinal Health reported earnings of $1.51 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 9.9%. The company is expected to report its next quarterly earnings report on Thursday, November 4th.

On average, analysts expect that Cardinal Health will report full year earnings of $5.84 per share for the current fiscal year, with EPS estimates ranging from $5.67 to $6.34. For the next year, analysts forecast that the company will post earnings of $6.52 per share, with EPS estimates ranging from $6.20 to $7.65. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Cardinal Health.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, August 5th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.43). The business had revenue of $42.59 billion during the quarter, compared to the consensus estimate of $40.25 billion. Cardinal Health had a return on equity of 93.70% and a net margin of 0.38%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 earnings per share.

CAH has been the topic of several analyst reports. TheStreet downgraded Cardinal Health from a “b” rating to a “c+” rating in a research report on Friday, August 6th. Citigroup lowered shares of Cardinal Health from a “buy” rating to an “underperform” rating and lowered their target price for the company from $69.00 to $56.00 in a research note on Thursday, August 5th. They noted that the move was a valuation call. Barclays dropped their target price on shares of Cardinal Health from $71.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, August 6th. Evercore ISI reaffirmed a “hold” rating and set a $50.00 price target on shares of Cardinal Health in a research note on Friday, August 6th. Finally, Bank of America downgraded Cardinal Health from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $69.00 to $56.00 in a research report on Thursday, August 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $57.33.

NYSE CAH traded up $0.71 during trading hours on Wednesday, hitting $52.84. 25,714 shares of the company were exchanged, compared to its average volume of 2,210,877. Cardinal Health has a 52 week low of $44.65 and a 52 week high of $62.96. The company has a quick ratio of 0.60, a current ratio of 1.12 and a debt-to-equity ratio of 2.99. The stock has a 50-day moving average price of $54.69 and a 200 day moving average price of $56.90. The stock has a market cap of $15.35 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.55 and a beta of 1.03.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, October 1st will be issued a $0.491 dividend. The ex-dividend date of this dividend is Thursday, September 30th. This is an increase from Cardinal Health’s previous quarterly dividend of $0.49. This represents a $1.96 dividend on an annualized basis and a yield of 3.72%. Cardinal Health’s payout ratio is currently 35.19%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAH. Cumberland Partners Ltd purchased a new stake in shares of Cardinal Health during the 1st quarter valued at $35,000. Maverick Capital Ltd. acquired a new stake in Cardinal Health in the second quarter worth about $35,000. AGF Investments LLC grew its stake in shares of Cardinal Health by 217.3% during the first quarter. AGF Investments LLC now owns 606 shares of the company’s stock worth $37,000 after acquiring an additional 415 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Cardinal Health during the first quarter valued at about $39,000. Finally, BDO Wealth Advisors LLC raised its position in shares of Cardinal Health by 328.0% in the 1st quarter. BDO Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $39,000 after purchasing an additional 492 shares during the last quarter. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.

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Earnings History and Estimates for Cardinal Health (NYSE:CAH)

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