Zacks Research Brokers Reduce Earnings Estimates for Cencora, Inc. (NYSE:COR)

Cencora, Inc. (NYSE:COR) – Analysts at Zacks Research decreased their Q3 2024 EPS estimates for Cencora in a research note issued on Wednesday, May 22nd. Zacks Research analyst I. Bandyopadhyay now expects that the company will post earnings of $3.14 per share for the quarter, down from their previous estimate of $3.20. The consensus estimate for Cencora’s current full-year earnings is $13.44 per share. Zacks Research also issued estimates for Cencora’s Q4 2024 earnings at $3.19 EPS and Q4 2025 earnings at $3.91 EPS.

Several other equities research analysts also recently weighed in on the stock. Robert W. Baird increased their target price on shares of Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Citigroup increased their target price on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. SVB Leerink initiated coverage on shares of Cencora in a research note on Monday, February 26th. They issued an “outperform” rating and a $261.00 target price on the stock. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Finally, Mizuho upped their price target on shares of Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average target price of $233.90.

Cencora Price Performance

Cencora stock opened at $219.82 on Friday. The company has a market cap of $43.84 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 1.51 and a beta of 0.47. The firm’s fifty day moving average is $234.60 and its 200 day moving average is $222.17. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. Cencora has a 52-week low of $163.37 and a 52-week high of $246.75.

Cencora (NYSE:COR) last released its earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The firm had revenue of $68.41 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the firm earned $3.50 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, May 9th. Cencora’s payout ratio is currently 22.32%.

Insiders Place Their Bets

In other Cencora news, CEO Steven H. Collis sold 10,754 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Steven H. Collis sold 10,754 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert P. Mauch sold 57,564 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $235.09, for a total transaction of $13,532,720.76. Following the sale, the chief operating officer now directly owns 24,412 shares in the company, valued at approximately $5,739,017.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,295 shares of company stock valued at $17,747,944. 15.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Cencora

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new position in shares of Cencora during the 4th quarter worth $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Cencora during the 1st quarter worth $2,183,619,000. JPMorgan Chase & Co. purchased a new position in shares of Cencora during the 1st quarter worth $1,199,695,000. Capital Research Global Investors purchased a new position in shares of Cencora during the 1st quarter worth $650,424,000. Finally, Bessemer Group Inc. purchased a new position in shares of Cencora during the 1st quarter worth $556,245,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.