Cardinal Health (NYSE:CAH) Issues FY24 Earnings Guidance

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

Cardinal Health Trading Up 0.5 %

Cardinal Health stock opened at $103.37 on Wednesday. The firm has a market cap of $25.14 billion, a PE ratio of 40.70, a P/E/G ratio of 0.99 and a beta of 0.68. The stock’s 50 day simple moving average is $109.56 and its two-hundred day simple moving average is $104.60. Cardinal Health has a 12 month low of $77.56 and a 12 month high of $116.04.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.82 EPS 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 company had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. During the same quarter last year, the business 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 forecast that Cardinal Health will post 7.28 EPS 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 issued a $0.5006 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. Cardinal Health’s payout ratio is 78.74%.

Analyst Ratings Changes

Several analysts have commented on CAH shares. Leerink Partnrs reissued an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. UBS Group boosted their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a buy rating in a research report on Monday, February 5th. SVB Leerink began coverage on shares of Cardinal Health in a research note on Monday, February 26th. They issued an outperform rating and a $125.00 price target on the stock. Argus upgraded shares of Cardinal Health from a hold rating to a buy rating in a report on Friday, February 9th. Finally, TheStreet lowered shares of Cardinal Health from a b- rating to a c+ rating in a research note on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price 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.