Cardinal Health (NYSE:CAH) Releases FY24 Earnings Guidance

Cardinal Health (NYSE:CAH) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $7.20-7.35 for the period, compared to the consensus estimate of $7.29. Cardinal Health also updated its FY 2024 guidance to 7.200-7.350 EPS.

Cardinal Health Trading Up 1.1 %

NYSE:CAH traded up $1.09 during trading hours on Thursday, hitting $104.63. The stock had a trading volume of 536,321 shares, compared to its average volume of 2,251,994. The company has a market cap of $25.45 billion, a PE ratio of 40.76, a price-to-earnings-growth ratio of 1.00 and a beta of 0.68. The business has a 50 day simple moving average of $109.56 and a two-hundred day simple moving average of $104.59. Cardinal Health has a 1-year low of $77.56 and a 1-year high of $116.04.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The firm had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. During the same period last year, the firm posted $1.32 EPS. Cardinal Health’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts expect that Cardinal Health will post 7.28 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is presently 78.74%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. SVB Leerink began coverage on shares of Cardinal Health in a report on Monday, February 26th. They set an outperform rating and a $125.00 price objective for the company. TheStreet cut shares of Cardinal Health from a b- rating to a c+ rating in a research report on Wednesday, December 27th. Barclays began coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They set an overweight rating and a $117.00 price target on the stock. StockNews.com lowered shares of Cardinal Health from a strong-buy rating to a buy rating in a research note on Wednesday. Finally, Leerink Partnrs reissued an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $103.07.

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.