Cardinal Health (NYSE:CAH) Announces Earnings Results, Beats Estimates By $0.13 EPS

Cardinal Health (NYSE:CAH) posted its quarterly earnings data on Thursday. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13, Briefing.com reports. The business had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. Cardinal Health’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 earnings per share. 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 %

Cardinal Health stock traded down $4.07 during trading hours on Friday, reaching $98.91. 3,446,183 shares of the company’s stock were exchanged, compared to its average volume of 2,028,678. The firm’s 50 day simple moving average is $109.10 and its 200 day simple moving average is $105.01. Cardinal Health has a twelve month low of $77.56 and a twelve month high of $116.04. The firm has a market capitalization of $24.06 billion, a PE ratio of 43.96, a PEG ratio of 1.03 and a beta of 0.71.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders 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 yield of 2.02%. Cardinal Health’s dividend payout ratio (DPR) is currently 88.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CAH shares. UBS Group boosted their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Wells Fargo & Company decreased their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Evercore ISI upped their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a report on Friday. Finally, Robert W. Baird reduced their price objective on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.