Cardinal Health (NYSE:CAH) Releases FY24 Earnings Guidance

Cardinal Health (NYSE:CAH) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $7.20-7.35 for the period, compared to the consensus earnings per share estimate of $7.29. Cardinal Health also updated its FY 2024 guidance to 7.200-7.350 EPS.

Wall Street Analyst Weigh In

A number of analysts recently commented on CAH shares. Barclays assumed coverage on shares of Cardinal Health in a research note on Wednesday, January 3rd. They issued an overweight rating and a $117.00 target price for the company. StockNews.com cut shares of Cardinal Health from a strong-buy rating to a buy rating in a research note on Wednesday. SVB Leerink started coverage on shares of Cardinal Health in a report on Monday, February 26th. They issued an outperform rating and a $125.00 price target for the company. Argus raised shares of Cardinal Health from a hold rating to a buy rating in a report on Friday, February 9th. Finally, Leerink Partnrs reissued an outperform rating on shares of Cardinal Health in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of Moderate Buy and a consensus price target of $103.07.

Cardinal Health Price Performance

Cardinal Health stock traded up $1.09 during midday trading on Thursday, hitting $104.63. 536,321 shares of the company were exchanged, compared to its average volume of 2,251,994. The company’s fifty day moving average price is $109.56 and its 200-day moving average price is $104.59. The company has a market cap of $25.45 billion, a PE ratio of 40.76, a price-to-earnings-growth ratio of 1.00 and a beta of 0.68. Cardinal Health has a fifty-two week low of $77.56 and a fifty-two week high of $116.04.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. During the same period in the previous year, the business earned $1.32 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts expect that Cardinal Health will post 7.28 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.5006 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.91%. Cardinal Health’s dividend payout ratio is currently 78.74%.

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.