Cardinal Health (NYSE:CAH) Issues FY24 Earnings Guidance

Cardinal Health (NYSE:CAH) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $7.30-7.40 for the period, compared to the consensus estimate of $7.29. Cardinal Health also updated its FY25 guidance to at least $7.50 EPS.

Cardinal Health Stock Down 4.0 %

CAH stock traded down $4.07 on Friday, reaching $98.91. 3,446,183 shares of the company’s stock were exchanged, compared to its average volume of 2,028,678. The stock has a fifty day moving average of $109.10 and a 200-day moving average of $105.09. Cardinal Health has a twelve month low of $77.56 and a twelve month high of $116.04. The firm has a market cap of $24.06 billion, a PE ratio of 43.96, a P/E/G ratio of 0.99 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.74 earnings per share. On average, equities research analysts predict that Cardinal Health will post 7.34 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed 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 currently 88.89%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CAH shares. Wells Fargo & Company reduced their target price on Cardinal Health from $96.00 to $94.00 and set an underweight rating on the stock in a research report on Monday, April 29th. SVB Leerink initiated coverage on shares of Cardinal Health in a research note on Monday, February 26th. They set an outperform rating and a $125.00 price objective for the company. Evercore ISI increased their price target on Cardinal Health from $110.00 to $115.00 and gave the company an in-line rating in a report on Friday. Leerink Partnrs reaffirmed an outperform rating on shares of Cardinal Health in a research report on Monday, February 26th. Finally, Argus upgraded Cardinal Health from a hold rating to a buy rating in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $105.79.

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.