Cencora (NYSE:COR) Updates FY24 Earnings Guidance

Cencora (NYSE:COR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $13.55-$13.65 for the period, compared to the consensus earnings per share estimate of $13.47. The company issued revenue guidance of $293.6 billion, compared to the consensus revenue estimate of $289.77 billion. Cencora also updated its FY 2024 guidance to 13.550-13.650 EPS.

Cencora Stock Up 1.3 %

Shares of NYSE:COR traded up $3.11 during midday trading on Friday, reaching $247.57. 3,292,432 shares of the company were exchanged, compared to its average volume of 1,217,035. Cencora has a fifty-two week low of $171.65 and a fifty-two week high of $247.66. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The stock has a fifty day simple moving average of $228.85 and a two-hundred day simple moving average of $231.18. The firm has a market cap of $49.38 billion, a PE ratio of 27.09, a P/E/G ratio of 1.68 and a beta of 0.45.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS 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 for the quarter, compared to analyst estimates of $73.32 billion. During the same period last year, the business posted $2.92 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts forecast that Cencora will post 13.56 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.82%. Cencora’s payout ratio is currently 22.32%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Cencora news, Director Dermot Mark Durcan acquired 500 shares of the company’s stock in a transaction on Friday, May 24th. The stock was acquired at an average price of $218.58 per share, for a total transaction of $109,290.00. Following the purchase, the director now directly owns 21,876 shares of the company’s stock, valued at $4,781,656.08. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Steven H. Collis sold 10,755 shares of the company’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 transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $63,323,746.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dermot Mark Durcan acquired 500 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $218.58 per share, with a total value of $109,290.00. Following the completion of the transaction, the director now owns 21,876 shares in the company, valued at $4,781,656.08. The disclosure for this purchase can be found here. Insiders sold 1,899,112 shares of company stock worth $408,654,376 in the last quarter. 15.80% of the stock is currently owned by corporate insiders.

Cencora Company Profile

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.