Analysts predict that Cardinal Health Inc (NYSE:CAH) will announce $33.59 billion in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Cardinal Health’s earnings. The highest sales estimate is $33.91 billion and the lowest is $32.83 billion. Cardinal Health posted sales of $32.64 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The business is scheduled to announce its next quarterly earnings report before the market opens on Thursday, November 8th.

According to Zacks, analysts expect that Cardinal Health will report full-year sales of $140.60 billion for the current fiscal year, with estimates ranging from $138.92 billion to $141.71 billion. For the next fiscal year, analysts forecast that the firm will post sales of $145.97 billion, with estimates ranging from $144.95 billion to $146.83 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Cardinal Health.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Monday, August 6th. The company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The business had revenue of $35.35 billion for the quarter, compared to analyst estimates of $34.38 billion. Cardinal Health had a return on equity of 22.59% and a net margin of 0.19%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.31 EPS.

Several equities research analysts have recently commented on the company. Robert W. Baird decreased their price target on Cardinal Health from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 7th. Morgan Stanley reduced their target price on Cardinal Health from $55.00 to $40.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 3rd. Zacks Investment Research raised Cardinal Health from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Argus reduced their target price on Cardinal Health from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, July 16th. Finally, Royal Bank of Canada set a $60.00 target price on Cardinal Health and gave the company a “hold” rating in a research note on Friday, September 21st. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $61.33.

In other Cardinal Health news, CEO Jon L. Giacomin sold 2,890 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $51.95, for a total transaction of $150,135.50. Following the transaction, the chief executive officer now owns 72,652 shares of the company’s stock, valued at approximately $3,774,271.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Several institutional investors have recently modified their holdings of CAH. Macquarie Group Ltd. lifted its stake in shares of Cardinal Health by 19.7% during the 2nd quarter. Macquarie Group Ltd. now owns 12,544,267 shares of the company’s stock worth $612,537,000 after purchasing an additional 2,067,829 shares during the period. Millennium Management LLC lifted its stake in shares of Cardinal Health by 10,011.2% during the 2nd quarter. Millennium Management LLC now owns 2,019,314 shares of the company’s stock worth $98,603,000 after purchasing an additional 1,999,343 shares during the period. American Century Companies Inc. lifted its stake in shares of Cardinal Health by 52.2% during the 2nd quarter. American Century Companies Inc. now owns 4,461,439 shares of the company’s stock worth $217,852,000 after purchasing an additional 1,530,702 shares during the period. Brandes Investment Partners LP lifted its stake in shares of Cardinal Health by 63.4% during the 2nd quarter. Brandes Investment Partners LP now owns 1,968,288 shares of the company’s stock worth $96,112,000 after purchasing an additional 763,486 shares during the period. Finally, Mainstay Capital Management LLC ADV lifted its stake in shares of Cardinal Health by 2,109.3% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 753,361 shares of the company’s stock worth $15,888,000 after purchasing an additional 719,261 shares during the period. 90.56% of the stock is currently owned by institutional investors.

Shares of NYSE:CAH opened at $53.19 on Monday. The company has a market cap of $15.95 billion, a PE ratio of 10.64, a PEG ratio of 1.68 and a beta of 1.02. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.53 and a current ratio of 1.07. Cardinal Health has a 12 month low of $48.14 and a 12 month high of $75.75.

The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were paid a $0.4763 dividend. The ex-dividend date of this dividend was Friday, September 28th. This represents a $1.91 dividend on an annualized basis and a yield of 3.58%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s dividend payout ratio is presently 38.20%.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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Earnings History and Estimates for Cardinal Health (NYSE:CAH)

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