Cardinal Health (NYSE:CAH) Releases Quarterly Earnings Results

Cardinal Health (NYSE:CAH) issued its quarterly earnings data on Thursday. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13, Briefing.com reports. The company had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.74 earnings per share. Cardinal Health updated its FY24 guidance to $7.30-7.40 EPS and its FY25 guidance to at least $7.50 EPS.

Cardinal Health Price Performance

CAH traded down $4.08 on Friday, hitting $98.90. The company had a trading volume of 3,445,729 shares, compared to its average volume of 2,288,769. The stock has a fifty day simple moving average of $109.28 and a 200-day simple moving average of $104.97. The firm has a market capitalization of $24.06 billion, a P/E ratio of 38.94, a P/E/G ratio of 1.03 and a beta of 0.71. Cardinal Health has a 52-week low of $77.56 and a 52-week high of $116.04.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders 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 dividend yield of 2.02%. Cardinal Health’s dividend payout ratio is 78.74%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CAH shares. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. UBS Group upped their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.79.

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.