Cencora (NYSE:COR) Updates FY24 Earnings Guidance

Cencora (NYSE:COR) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $13.30-13.50 for the period, compared to the consensus earnings per share estimate of $13.45.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of recent research reports. Citigroup upped their target price on Cencora from $265.00 to $280.00 and gave the company a buy rating in a research note on Tuesday. Robert W. Baird increased their price objective on Cencora from $275.00 to $277.00 and gave the company an outperform rating in a research note on Thursday. Leerink Partnrs reiterated an outperform rating on shares of Cencora in a research report on Monday, February 26th. SVB Leerink began coverage on shares of Cencora in a report on Monday, February 26th. They issued an outperform rating and a $261.00 target price on the stock. Finally, StockNews.com downgraded shares of Cencora from a strong-buy rating to a buy rating in a report on Thursday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $233.90.

Cencora Trading Down 0.4 %

COR stock traded down $0.79 during trading on Friday, reaching $223.95. 2,222,046 shares of the stock traded hands, compared to its average volume of 1,292,259. The business’s 50 day moving average price is $238.31 and its 200-day moving average price is $218.93. The firm has a market capitalization of $44.67 billion, a PE ratio of 24.51, a P/E/G ratio of 1.69 and a beta of 0.47. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.52. Cencora has a 52-week low of $163.37 and a 52-week high of $246.75.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The business had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the business earned $3.50 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Cencora will post 13.46 earnings per share for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.51 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.04 annualized dividend and a yield of 0.91%. Cencora’s dividend payout ratio is currently 22.32%.

Insiders Place Their Bets

In other Cencora news, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cencora news, 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 completion of the sale, the chief operating officer now owns 24,412 shares in the company, valued at approximately $5,739,017.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Steven H. Collis sold 10,754 shares of the company’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 value of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at $67,702,698.24. The disclosure for this sale can be found here. Insiders have sold a total of 4,288,790 shares of company stock worth $1,009,641,379 over the last quarter. 15.80% of the stock is owned by corporate insiders.

Cencora Company Profile

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.