Cardinal Health (NYSE:CAH) Issues FY 2024 Earnings Guidance

Cardinal Health (NYSE:CAH) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 7.200-7.350 for the period, compared to the consensus EPS estimate of 7.290. The company issued revenue guidance of -. Cardinal Health also updated its FY24 guidance to $7.20-7.35 EPS.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CAH. Barclays began coverage on Cardinal Health in a research report on Wednesday, January 3rd. They set an overweight rating and a $117.00 price target on the stock. TheStreet lowered Cardinal Health from a b- rating to a c+ rating in a research report on Wednesday, December 27th. Argus upgraded Cardinal Health from a hold rating to a buy rating in a research report on Friday, February 9th. Leerink Partnrs reiterated an outperform rating on shares of Cardinal Health in a research report on Monday, February 26th. Finally, SVB Leerink began coverage on Cardinal Health in a research report on Monday, February 26th. They issued an outperform rating and a $125.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $103.07.

Cardinal Health Stock Down 5.0 %

NYSE CAH opened at $102.83 on Tuesday. The stock’s 50 day moving average is $109.58 and its 200 day moving average is $104.50. The firm has a market capitalization of $25.01 billion, a PE ratio of 40.48, a P/E/G ratio of 1.04 and a beta of 0.68. Cardinal Health has a twelve month low of $77.56 and a twelve month high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data 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 business had revenue of $57.45 billion during the quarter, compared to analysts’ expectations of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.32 earnings per share. On average, research analysts anticipate that Cardinal Health will post 7.28 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s payout ratio is 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.