Cardinal Health (NYSE:CAH) Issues FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group upped their price objective on Cardinal Health from $122.00 to $125.00 and gave the company a buy rating in a research note on Monday, February 5th. Argus upgraded Cardinal Health from a hold rating to a buy rating in a research note on Friday, February 9th. Evercore ISI upped their price objective on Cardinal Health from $110.00 to $115.00 and gave the company an in-line rating in a research note on Friday. Leerink Partnrs reiterated an outperform rating on shares of Cardinal Health in a research note on Monday, February 26th. Finally, Robert W. Baird lowered their target price on Cardinal Health from $134.00 to $128.00 and set an outperform rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health currently has an average rating of Moderate Buy and a consensus price target of $105.79.

Cardinal Health Stock Performance

Shares of CAH traded down $4.07 during trading hours on Friday, reaching $98.91. The stock had a trading volume of 3,446,183 shares, compared to its average volume of 2,028,678. Cardinal Health has a 12 month low of $77.56 and a 12 month high of $116.04. The stock has a market capitalization of $24.06 billion, a PE ratio of 43.96, a PEG ratio of 0.99 and a beta of 0.71. The company’s 50-day moving average is $109.10 and its two-hundred day moving average is $105.09.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. The company had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.74 EPS. Equities analysts anticipate that Cardinal Health will post 7.34 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

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