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

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

Several research firms recently weighed in on CAH. Leerink Partnrs restated an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. TheStreet cut Cardinal Health from a b- rating to a c+ rating in a research report on Wednesday, December 27th. UBS Group raised their target price on Cardinal Health from $122.00 to $125.00 and gave the company a buy rating in a report on Monday, February 5th. SVB Leerink started coverage on Cardinal Health in a research report on Monday, February 26th. They issued an outperform rating and a $125.00 price objective for the company. Finally, Barclays assumed coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They set an overweight rating and a $117.00 target price on the stock. One equities research 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 stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $103.07.

Cardinal Health Stock Up 0.5 %

Shares of NYSE CAH opened at $103.37 on Wednesday. Cardinal Health has a 12-month low of $77.56 and a 12-month high of $116.04. The firm’s 50-day simple moving average is $109.56 and its 200 day simple moving average is $104.60. The company has a market cap of $25.14 billion, a price-to-earnings ratio of 40.70, a price-to-earnings-growth ratio of 0.99 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. The company had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. Cardinal Health’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.32 earnings per share. On average, equities analysts expect that Cardinal Health will post 7.28 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. 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.