Cardinal Health (NYSE:CAH) Issues FY24 Earnings Guidance

Cardinal Health (NYSE:CAH) issued an update on its FY24 earnings guidance on Thursday morning. 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.

Cardinal Health Stock Performance

NYSE CAH traded down $4.07 during trading on Friday, hitting $98.91. The stock had a trading volume of 3,446,183 shares, compared to its average volume of 2,028,678. The company has a market capitalization of $24.06 billion, a PE ratio of 43.96, a P/E/G ratio of 0.99 and a beta of 0.71. The company’s 50-day moving average price is $109.10 and its two-hundred day moving average price is $105.09. Cardinal Health has a 12 month low of $77.56 and a 12 month high of $116.04.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. The firm had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.74 EPS. As a group, equities analysts anticipate that Cardinal Health will post 7.34 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.5006 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.02%. Cardinal Health’s payout ratio is 88.89%.

Analyst Upgrades and Downgrades

CAH has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on Cardinal Health from $96.00 to $94.00 and set an underweight rating on the stock in a research note on Monday, April 29th. Robert W. Baird reduced their target price on shares of Cardinal Health from $134.00 to $128.00 and set an outperform rating for the company in a report on Friday. Evercore ISI increased their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the company an in-line rating in a report on Friday. Leerink Partnrs restated an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. Finally, UBS Group increased their target price on Cardinal Health from $122.00 to $125.00 and gave the stock a buy rating in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $105.79.

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.