Cencora, Inc. (COR) To Go Ex-Dividend on November 13th

Cencora, Inc. (NYSE:COR) announced a quarterly dividend on Tuesday, November 3rd. Investors of record on Friday, November 13th will be paid a dividend of $0.66 per share on Monday, November 30th. This represents a $2.64 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 13th. This is a 10.0% increase from Cencora’s previous quarterly dividend of $0.60.

Cencora has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 15 years. Cencora has a dividend payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cencora to earn $19.78 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 12.1%.

Cencora Stock Up 4.0%

Cencora stock opened at $354.20 on Thursday. The firm has a market cap of $67.59 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.74 and a beta of 0.58. Cencora has a 52-week low of $244.82 and a 52-week high of $377.54. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The firm has a 50 day moving average price of $324.60 and a two-hundred day moving average price of $317.44.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $4.66 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.08. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The firm had revenue of $88.35 billion during the quarter, compared to the consensus estimate of $87.95 billion. During the same period last year, the business posted $3.84 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. Equities analysts predict that Cencora will post 17.88 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Morgan Stanley raised their target price on Cencora from $346.00 to $377.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Wells Fargo & Company boosted their target price on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Bank of America upped their price target on Cencora from $285.00 to $310.00 in a research note on Tuesday, July 21st. Finally, UBS Group cut their price target on Cencora from $430.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, October 16th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $368.38.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.