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

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

Cardinal Health Stock Up 1.1 %

Shares of CAH traded up $1.09 during trading hours on Thursday, hitting $104.63. The company had a trading volume of 536,321 shares, compared to its average volume of 2,251,994. The firm has a market cap of $25.45 billion, a price-to-earnings ratio of 40.76, a PEG ratio of 1.00 and a beta of 0.68. The business has a fifty day moving average of $109.56 and a 200-day moving average of $104.59. Cardinal Health has a 12 month low of $77.56 and a 12 month 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 net margin of 0.30% and a negative return on equity of 57.44%. The business had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. During the same period last year, the firm earned $1.32 earnings per share. Cardinal Health’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts expect that Cardinal Health will post 7.28 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio is 78.74%.

Analyst Ratings Changes

Several research firms have commented on CAH. StockNews.com lowered shares of Cardinal Health from a strong-buy rating to a buy rating in a report on Wednesday. Argus raised shares of Cardinal Health from a hold rating to a buy rating in a report on Friday, February 9th. UBS Group raised their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the company a buy rating in a report on Monday, February 5th. TheStreet downgraded shares of Cardinal Health from a b- rating to a c+ rating in a research note on Wednesday, December 27th. Finally, Barclays assumed coverage on shares of Cardinal Health in a research note on Wednesday, January 3rd. They issued an overweight rating and a $117.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $103.07.

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.