Cardinal Health (NYSE:CAH) Releases FY24 Earnings Guidance

Cardinal Health (NYSE:CAH) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $7.30-7.40 for the period, compared to the consensus earnings per share estimate of $7.29. Cardinal Health also updated its FY25 guidance to at least $7.50 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CAH shares. Argus raised shares of Cardinal Health from a hold rating to a buy rating in a research report on Friday, February 9th. Wells Fargo & Company dropped their price objective on Cardinal Health from $96.00 to $94.00 and set an underweight rating on the stock in a research note on Monday, April 29th. Evercore ISI upped their target price on Cardinal Health from $110.00 to $115.00 and gave the stock an in-line rating in a report on Friday. SVB Leerink initiated coverage on Cardinal Health in a research note on Monday, February 26th. They set an outperform rating and a $125.00 price target on the stock. Finally, Robert W. Baird dropped their target price on shares of Cardinal Health from $134.00 to $128.00 and set an outperform rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $105.79.

Cardinal Health Stock Down 4.0 %

Shares of CAH traded down $4.07 during mid-day trading on Friday, hitting $98.91. 3,446,183 shares of the company traded hands, compared to its average volume of 2,028,678. The company has a market capitalization of $24.06 billion, a PE ratio of 43.96, a price-to-earnings-growth ratio of 0.99 and a beta of 0.71. The business has a 50 day moving average of $109.10 and a 200 day moving average of $105.09. Cardinal Health has a 1-year low of $77.56 and a 1-year high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data 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 business had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. During the same period in the previous year, the business posted $1.74 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts expect that Cardinal Health will post 7.34 EPS for the current fiscal year.

Cardinal Health Announces Dividend

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

About Cardinal Health

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.