Cardinal Health (NYSE:CAH) Updates 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 guidance of 7.200-7.350 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of NYSE:CAH traded down $6.77 during trading on Monday, hitting $101.42. The company had a trading volume of 1,750,220 shares, compared to its average volume of 2,221,167. The stock has a market cap of $24.67 billion, a price-to-earnings ratio of 40.06, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68. Cardinal Health has a one year low of $77.56 and a one year high of $116.04. The company has a fifty day simple moving average of $109.59 and a two-hundred day simple moving average of $104.41.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. During the same period last year, the company earned $1.32 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts anticipate that Cardinal Health will post 7.28 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio is currently 78.74%.

Analyst Upgrades and Downgrades

CAH has been the topic of several research reports. SVB Leerink initiated coverage on Cardinal Health in a report on Monday, February 26th. They set an outperform rating and a $125.00 price objective on the stock. UBS Group raised their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a buy rating in a report on Monday, February 5th. Argus upgraded Cardinal Health from a hold rating to a buy rating in a report on Friday, February 9th. Barclays began coverage on Cardinal Health in a report on Wednesday, January 3rd. They issued an overweight rating and a $117.00 price target on the stock. Finally, Leerink Partnrs reiterated an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $103.07.

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.