Cardinal Health, Inc. (NYSE:CAH) Declares Dividend Increase – $0.51 Per Share

Cardinal Health, Inc. (NYSE:CAH) declared a quarterly dividend on Tuesday, May 7th, RTT News reports. Investors of record on Monday, July 1st will be given a dividend of 0.5056 per share on Monday, July 15th. This represents a $2.02 dividend on an annualized basis and a yield of 2.05%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50.

Cardinal Health has raised its dividend by an average of 1.0% annually over the last three years and has raised its dividend annually for the last 27 consecutive years. Cardinal Health has a payout ratio of 25.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cardinal Health to earn $7.58 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 26.4%.

Cardinal Health Trading Down 1.0 %

NYSE CAH traded down $1.01 on Wednesday, reaching $98.71. 226,068 shares of the company were exchanged, compared to its average volume of 2,260,566. Cardinal Health has a fifty-two week low of $80.90 and a fifty-two week high of $116.04. The stock has a market capitalization of $24.04 billion, a P/E ratio of 44.32, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The business’s fifty day moving average price is $108.67 and its 200 day moving average price is $105.27.

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

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of research analyst reports. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 2nd. UBS Group lifted their target price on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Wells Fargo & Company cut their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Finally, Robert W. Baird cut their target price on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. One investment 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.79.

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.