Equities research analysts forecast that Cardinal Health Inc (NYSE:CAH) will announce sales of $36.98 billion for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Cardinal Health’s earnings. The lowest sales estimate is $36.80 billion and the highest is $37.40 billion. Cardinal Health posted sales of $35.21 billion during the same quarter last year, which suggests a positive year over year growth rate of 5%. The firm is expected to announce its next quarterly earnings results on Thursday, November 14th.
On average, analysts expect that Cardinal Health will report full-year sales of $152.71 billion for the current financial year, with estimates ranging from $151.94 billion to $153.47 billion. For the next financial year, analysts expect that the business will post sales of $160.11 billion, with estimates ranging from $158.12 billion to $161.85 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Cardinal Health.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.18. Cardinal Health had a net margin of 0.94% and a return on equity of 25.96%. The business had revenue of $37.35 billion during the quarter, compared to analysts’ expectations of $36.70 billion. During the same period last year, the company posted $1.01 EPS. The business’s revenue was up 5.7% on a year-over-year basis.
Hedge funds have recently added to or reduced their stakes in the stock. Andra AP fonden purchased a new position in shares of Cardinal Health during the 1st quarter worth about $5,662,000. ARP Americas LP lifted its holdings in Cardinal Health by 197.2% during the 2nd quarter. ARP Americas LP now owns 62,399 shares of the company’s stock valued at $2,939,000 after buying an additional 41,400 shares in the last quarter. Cadence Capital Management LLC lifted its holdings in Cardinal Health by 68.7% during the 2nd quarter. Cadence Capital Management LLC now owns 49,303 shares of the company’s stock valued at $2,322,000 after buying an additional 20,084 shares in the last quarter. Bremer Bank National Association bought a new stake in Cardinal Health during the 1st quarter valued at about $27,000. Finally, OLD Republic International Corp lifted its holdings in Cardinal Health by 10.7% during the 2nd quarter. OLD Republic International Corp now owns 1,134,000 shares of the company’s stock valued at $53,411,000 after buying an additional 110,000 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:CAH traded down $0.26 on Tuesday, reaching $48.22. The company’s stock had a trading volume of 150,211 shares, compared to its average volume of 2,683,163. Cardinal Health has a 52-week low of $41.03 and a 52-week high of $58.31. The company has a market cap of $14.43 billion, a P/E ratio of 9.13, a PEG ratio of 1.59 and a beta of 1.29. The company has a 50-day simple moving average of $44.33 and a 200 day simple moving average of $46.49. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 1.07.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
Recommended Story: How is a price target determined?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.