Cardinal Health (NYSE:CAH) Releases FY 2024 Earnings Guidance

Cardinal Health (NYSE:CAH) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 7.200-7.350 for the period, compared to the consensus estimate of 7.290. The company issued revenue guidance of -. Cardinal Health also updated its FY24 guidance to $7.20-7.35 EPS.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Argus upgraded shares of Cardinal Health from a hold rating to a buy rating in a research report on Friday, February 9th. Leerink Partnrs reiterated an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. SVB Leerink initiated coverage on Cardinal Health in a research report on Monday, February 26th. They set an outperform rating and a $125.00 target price on the stock. Barclays started coverage on Cardinal Health in a report on Wednesday, January 3rd. They set an overweight rating and a $117.00 price target on the stock. Finally, TheStreet downgraded shares of Cardinal Health from a b- rating to a c+ rating in a research note on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cardinal Health has an average rating of Moderate Buy and a consensus price target of $103.07.

Cardinal Health Price Performance

Shares of NYSE:CAH traded down $6.77 on Monday, hitting $101.42. The company’s stock had a trading volume of 1,750,220 shares, compared to its average volume of 2,221,167. Cardinal Health has a 1 year low of $77.56 and a 1 year high of $116.04. The company has a market capitalization of $24.67 billion, a PE ratio of 40.06, a PEG ratio of 1.04 and a beta of 0.68. The company has a 50-day simple moving average of $109.59 and a 200 day simple moving average of $104.41.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $57.02 billion. During the same quarter in the prior year, the firm earned $1.32 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts expect that Cardinal Health will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a $0.5006 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.97%. Cardinal Health’s payout ratio is currently 78.74%.

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.