Cardinal Health (NYSE:CAH) Updates 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

CAH has been the topic of a number of recent analyst reports. Leerink Partnrs restated an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. UBS Group raised their target price on Cardinal Health from $122.00 to $125.00 and gave the stock a buy rating in a report on Monday, February 5th. SVB Leerink initiated coverage on Cardinal Health in a report on Monday, February 26th. They set an outperform rating and a $125.00 target price on the stock. Argus upgraded Cardinal Health from a hold rating to a buy rating in a report on Friday, February 9th. Finally, Barclays initiated coverage on Cardinal Health in a report on Wednesday, January 3rd. They set an overweight rating and a $117.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of Moderate Buy and an average price target of $103.07.

Cardinal Health Price Performance

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

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, topping 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 company had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. During the same quarter last year, the firm posted $1.32 earnings per share. Cardinal Health’s revenue was up 11.6% compared to the same quarter last year. Equities analysts anticipate that Cardinal Health will post 7.28 EPS for the current 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 given a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio is presently 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.