Cardinal Health (NYSE:CAH) Releases 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 Ratings Changes

CAH has been the topic of several recent analyst reports. UBS Group lifted their price objective on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a buy rating in a research note on Monday, February 5th. StockNews.com upgraded shares of Cardinal Health from a buy rating to a strong-buy rating in a report on Thursday. SVB Leerink initiated coverage on shares of Cardinal Health in a research report on Monday, February 26th. They issued an outperform rating and a $125.00 price target on the stock. Leerink Partnrs reiterated an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. Finally, Wells Fargo & Company reduced their price target on Cardinal Health from $96.00 to $94.00 and set an underweight rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of Moderate Buy and a consensus price target of $102.93.

Cardinal Health Stock Up 1.5 %

Shares of NYSE:CAH traded up $1.49 during midday trading on Thursday, reaching $103.66. The company had a trading volume of 540,911 shares, compared to its average volume of 2,234,539. Cardinal Health has a 1-year low of $77.56 and a 1-year high of $116.04. The business’s 50 day moving average price is $109.37 and its 200 day moving average price is $104.98. The stock has a market cap of $25.21 billion, a PE ratio of 40.22, a P/E/G ratio of 1.04 and a beta of 0.71.

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

Cardinal Health Dividend Announcement

The firm 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 annualized dividend and a yield of 1.93%. Cardinal Health’s payout ratio is 78.74%.

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.