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 earnings per share (EPS) guidance of 7.200-7.350 for the period, compared to the consensus estimate of 7.290. The company issued revenue guidance of -. Cardinal Health also updated its FY24 guidance to $7.20-7.35 EPS.

Cardinal Health Price Performance

Shares of CAH stock traded up $1.09 on Thursday, hitting $104.63. The stock had a trading volume of 536,321 shares, compared to its average volume of 2,251,994. The company’s 50 day moving average price is $109.56 and its 200-day moving average price is $104.59. Cardinal Health has a 1 year low of $77.56 and a 1 year high of $116.04. The firm has a market capitalization of $25.45 billion, a P/E ratio of 40.76, a P/E/G ratio of 1.00 and a beta of 0.68.

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

Cardinal Health Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.91%. Cardinal Health’s dividend payout ratio is currently 78.74%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CAH. SVB Leerink initiated coverage on Cardinal Health in a research report on Monday, February 26th. They issued an outperform rating and a $125.00 target price for the company. StockNews.com cut Cardinal Health from a strong-buy rating to a buy rating in a research report on Wednesday. UBS Group upped their target price on Cardinal Health from $122.00 to $125.00 and gave the company a buy rating in a research report on Monday, February 5th. TheStreet cut Cardinal Health from a b- rating to a c+ rating in a research report on Wednesday, December 27th. Finally, Argus raised Cardinal Health from a hold rating to a buy rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $103.07.

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.