Cencora (NYSE:COR) Updates FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Several research firms have commented on COR. SVB Leerink initiated coverage on shares of Cencora in a research note on Monday, February 26th. They set an outperform rating and a $261.00 price target on the stock. Leerink Partnrs reiterated an outperform rating on shares of Cencora in a research report on Monday, February 26th. Citigroup upped their price target on shares of Cencora from $265.00 to $280.00 and gave the company a buy rating in a research report on Tuesday. StockNews.com downgraded Cencora from a strong-buy rating to a buy rating in a report on Thursday. Finally, Robert W. Baird boosted their target price on Cencora from $275.00 to $277.00 and gave the company an outperform rating in a research note on Thursday. Three investment 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 company presently has an average rating of Moderate Buy and a consensus target price of $233.90.

Cencora Trading Down 0.4 %

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

Cencora (NYSE:COR) last announced its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The firm had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the firm posted $3.50 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts predict that Cencora will post 13.46 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders 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 dividend on an annualized basis and a yield of 0.91%. Cencora’s dividend payout ratio (DPR) is 22.32%.

Insider Buying and Selling at Cencora

In related news, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction dated 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 approximately $67,702,698.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction dated 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 approximately $67,702,698.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gina Clark sold 1,100 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $230.48, for a total transaction of $253,528.00. Following the completion of the transaction, the executive vice president now owns 24,802 shares of the company’s stock, valued at $5,716,364.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,288,790 shares of company stock valued at $1,009,641,379. 15.80% of the stock is currently owned by company 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.