Cardinal Health, Inc. (NYSE:CAH) Expected to Announce Earnings of $1.17 Per Share

Brokerages forecast that Cardinal Health, Inc. (NYSE:CAH – Get Rating) will post $1.17 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Cardinal Health’s earnings, with the lowest EPS estimate coming in at $1.12 and the highest estimate coming in at $1.20. Cardinal Health reported earnings of $0.77 per share during the same quarter last year, which would suggest a positive year over year growth rate of 51.9%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Cardinal Health will report full-year earnings of $5.24 per share for the current fiscal year, with EPS estimates ranging from $5.16 to $5.33. For the next year, analysts expect that the business will report earnings of $5.61 per share, with EPS estimates ranging from $5.20 to $5.97. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Cardinal Health.

Cardinal Health (NYSE:CAH – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.09). The firm had revenue of $44.84 billion for the quarter, compared to analyst estimates of $43.20 billion. Cardinal Health had a positive return on equity of 155.24% and a negative net margin of 0.54%. Cardinal Health’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 earnings per share.

A number of research analysts have weighed in on the company. Credit Suisse Group reduced their target price on Cardinal Health from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, February 4th. TheStreet cut shares of Cardinal Health from a “c+” rating to a “d+” rating in a report on Thursday, May 5th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 6th. Robert W. Baird increased their target price on Cardinal Health from $52.00 to $57.00 in a research note on Friday, February 4th. Finally, Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating and set a $55.00 price target for the company in a research report on Monday, March 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $58.10.

Institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Cardinal Health in the 4th quarter valued at about $153,312,000. State Street Corp boosted its holdings in shares of Cardinal Health by 12.2% in the fourth quarter. State Street Corp now owns 21,345,022 shares of the company’s stock valued at $1,109,396,000 after acquiring an additional 2,327,008 shares during the period. Invesco Ltd. grew its position in shares of Cardinal Health by 29.6% during the fourth quarter. Invesco Ltd. now owns 5,674,226 shares of the company’s stock worth $292,167,000 after acquiring an additional 1,295,582 shares during the last quarter. Equity Investment Corp acquired a new position in shares of Cardinal Health in the 1st quarter valued at $63,473,000. Finally, BlackRock Inc. raised its position in Cardinal Health by 5.0% in the 1st quarter. BlackRock Inc. now owns 23,108,919 shares of the company’s stock valued at $1,310,275,000 after purchasing an additional 1,109,613 shares during the last quarter. Institutional investors own 84.26% of the company’s stock.

Shares of Cardinal Health stock traded up $0.63 during mid-day trading on Friday, hitting $55.61. 2,235,045 shares of the stock were exchanged, compared to its average volume of 2,878,480. The company has a market capitalization of $15.15 billion, a P/E ratio of 8.48, a P/E/G ratio of 6.65 and a beta of 0.82. The company has a 50-day simple moving average of $58.23 and a 200 day simple moving average of $53.49. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.54 and a current ratio of 1.08. Cardinal Health has a 12 month low of $45.85 and a 12 month high of $64.53.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, July 1st will be issued a dividend of $0.4957 per share. The ex-dividend date of this dividend is Thursday, June 30th. This is a boost from Cardinal Health’s previous quarterly dividend of $0.49. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.57%. Cardinal Health’s dividend payout ratio is currently 29.88%.

About Cardinal Health (Get Rating)

Cardinal Health, Inc operates as an integrated 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.

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