Cencora (NYSE:COR) Issues FY 2024 Earnings Guidance

Cencora (NYSE:COR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 13.550-13.650 for the period, compared to the consensus EPS estimate of 13.470. The company issued revenue guidance of $293.6 billion-$293.6 billion, compared to the consensus revenue estimate of $289.7 billion. Cencora also updated its FY24 guidance to $13.55-$13.65 EPS.

Cencora Price Performance

Shares of COR stock opened at $247.53 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.93. The firm has a market capitalization of $49.37 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 1.68 and a beta of 0.45. The firm’s 50 day moving average is $228.85 and its 200-day moving average is $231.18. Cencora has a 1 year low of $171.65 and a 1 year high of $247.66.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the previous year, the firm posted $2.92 earnings per share. Cencora’s revenue for the quarter was up 10.8% compared to the same quarter last year. Sell-side analysts forecast that Cencora will post 13.56 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, August 9th. Cencora’s payout ratio is presently 22.32%.

Analysts Set New Price Targets

COR has been the subject of several research reports. Citigroup increased their price objective on shares of Cencora from $265.00 to $280.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. StockNews.com upgraded shares of Cencora from a buy rating to a strong-buy rating in a report on Friday. Robert W. Baird increased their target price on shares of Cencora from $285.00 to $287.00 and gave the stock an outperform rating in a report on Thursday. Wells Fargo & Company increased their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an equal weight rating in a report on Thursday. Finally, SVB Leerink restated an outperform rating and set a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $243.00.

Insider Buying and Selling

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Gina Clark sold 1,874 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $223.86, for a total value of $419,513.64. Following the sale, the executive vice president now directly owns 13,284 shares in the company, valued at approximately $2,973,756.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the sale, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,899,112 shares of company stock valued at $408,654,376. 15.80% of the stock is owned by company insiders.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.