Cencora (NYSE:COR) to Repurchase $2.00 billion in Stock

Cencora (NYSE:COR) announced that its board has authorized a stock repurchase program on Thursday, May 21st, RTT News reports. The company plans to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

COR has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Cencora in a research note on Monday, May 4th. UBS Group boosted their price objective on Cencora from $410.00 to $412.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. William Blair began coverage on Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating for the company. Robert W. Baird reduced their price objective on Cencora from $420.00 to $339.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Finally, Citigroup reduced their price objective on Cencora from $405.00 to $355.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $380.25.

Cencora Price Performance

COR stock traded up $0.62 on Thursday, reaching $265.37. 1,300,707 shares of the company’s stock were exchanged, compared to its average volume of 2,297,795. The stock has a fifty day moving average of $307.20 and a 200-day moving average of $337.20. Cencora has a twelve month low of $244.82 and a twelve month high of $377.54. The firm has a market cap of $51.63 billion, a PE ratio of 20.35, a P/E/G ratio of 1.22 and a beta of 0.64. The company has a quick ratio of 0.59, a current ratio of 0.95 and a debt-to-equity ratio of 3.40.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $4.75 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($0.07). Cencora had a return on equity of 135.20% and a net margin of 0.78%.The business had revenue of $78.36 billion for the quarter, compared to analyst estimates of $81.09 billion. During the same period in the prior year, the company earned $4.42 EPS. The company’s revenue was up 3.9% on a year-over-year basis. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. As a group, equities analysts predict that Cencora will post 17.76 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.40 annualized dividend and a yield of 0.9%. Cencora’s dividend payout ratio is 18.40%.

Cencora Company Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.