Cardinal Health (NYSE:CAH) Updates FY24 Earnings Guidance

Cardinal Health (NYSE:CAH) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.30-7.40 for the period, compared to the consensus estimate of $7.29. Cardinal Health also updated its FY25 guidance to at least $7.50 EPS.

Cardinal Health Trading Down 4.0 %

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

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. During the same period in the previous year, the firm posted $1.74 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that Cardinal Health will post 7.34 EPS for the current year.

Cardinal Health Dividend Announcement

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

Wall Street Analysts Forecast Growth

CAH has been the topic of several research reports. Leerink Partnrs restated an outperform rating on shares of Cardinal Health in a research note on Monday, February 26th. UBS Group boosted their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a buy rating in a research report on Monday, February 5th. Argus raised shares of Cardinal Health from a hold rating to a buy rating in a report on Friday, February 9th. SVB Leerink assumed coverage on Cardinal Health in a research note on Monday, February 26th. They set an outperform rating and a $125.00 target price on the stock. Finally, Evercore ISI boosted their price target on Cardinal Health from $110.00 to $115.00 and gave the company an in-line rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently 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.