Cardinal Health, Inc. (NYSE:CAH) Expected to Announce Quarterly Sales of $44.60 Billion

Equities research analysts expect Cardinal Health, Inc. (NYSE:CAH – Get Rating) to report $44.60 billion in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Cardinal Health’s earnings. The highest sales estimate is $45.36 billion and the lowest is $43.81 billion. Cardinal Health reported sales of $42.59 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.7%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Cardinal Health will report full-year sales of $178.01 billion for the current year, with estimates ranging from $177.20 billion to $179.07 billion. For the next financial year, analysts forecast that the company will post sales of $186.35 billion, with estimates ranging from $183.91 billion to $188.98 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Cardinal Health.

Cardinal Health (NYSE:CAH – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.09). Cardinal Health had a positive return on equity of 155.24% and a negative net margin of 0.54%. The firm had revenue of $44.84 billion during the quarter, compared to the consensus estimate of $43.20 billion. During the same period in the prior year, the company posted $1.53 EPS. The firm’s revenue was up 14.2% on a year-over-year basis.

A number of brokerages recently weighed in on CAH. Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating and set a $55.00 target price for the company in a research report on Monday, March 14th. Credit Suisse Group decreased their target price on Cardinal Health from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, February 4th. Robert W. Baird raised their price target on Cardinal Health from $52.00 to $57.00 in a report on Friday, February 4th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 6th. Finally, Morgan Stanley raised Cardinal Health from an “equal weight” rating to an “overweight” rating and set a $74.00 price objective for the company in a research note on Tuesday, April 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $58.10.

Shares of NYSE:CAH traded up $0.63 during trading on Monday, hitting $55.61. 2,235,045 shares of the company’s stock were exchanged, compared to its average volume of 2,878,480. The company has a market cap of $15.15 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 6.65 and a beta of 0.82. The company has a debt-to-equity ratio of 5.33, a current ratio of 1.08 and a quick ratio of 0.54. Cardinal Health has a 52-week low of $45.85 and a 52-week high of $64.53. The business’s 50-day simple moving average is $58.23 and its 200 day simple moving average is $53.49.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 1st will be issued a $0.4957 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $1.98 dividend on an annualized basis and a yield of 3.57%. Cardinal Health’s dividend payout ratio is presently 29.88%.

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Cardinal Health in the 4th quarter valued at approximately $153,312,000. State Street Corp increased its stake in Cardinal Health by 12.2% in the fourth quarter. State Street Corp now owns 21,345,022 shares of the company’s stock valued at $1,109,396,000 after purchasing an additional 2,327,008 shares during the last quarter. Invesco Ltd. raised its stake in Cardinal Health by 29.6% during the 4th quarter. Invesco Ltd. now owns 5,674,226 shares of the company’s stock worth $292,167,000 after acquiring an additional 1,295,582 shares in the last quarter. Equity Investment Corp purchased a new stake in shares of Cardinal Health in the first quarter valued at approximately $63,473,000. Finally, BlackRock Inc. boosted its position in shares of Cardinal Health by 5.0% during the 1st quarter. BlackRock Inc. now owns 23,108,919 shares of the company’s stock worth $1,310,275,000 after purchasing an additional 1,109,613 shares in the last quarter. 84.26% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Company Profile (Get Rating)

Cardinal Health, Inc operates as an integrated 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.

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