Cencora, Inc. (NYSE:COR) Announces Quarterly Dividend of $0.66

Cencora, Inc. (NYSE:COR) announced a quarterly dividend on Tuesday, November 3rd. Investors of record on Friday, November 13th will be paid a dividend of $0.66 per share on Monday, November 30th. This represents a $2.64 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 13th. This is a 10.0% increase from Cencora’s previous quarterly dividend of $0.60.

Cencora has increased its dividend by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 15 years. Cencora has a dividend payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cencora to earn $19.78 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 12.1%.

Cencora Stock Up 4.0%

COR traded up $13.70 during trading on Wednesday, hitting $354.20. The stock had a trading volume of 2,887,520 shares, compared to its average volume of 1,468,252. The stock has a 50 day simple moving average of $324.08 and a two-hundred day simple moving average of $317.45. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora has a twelve month low of $244.82 and a twelve month high of $377.54. The company has a market capitalization of $67.59 billion, a PE ratio of 26.31, a PEG ratio of 1.73 and a beta of 0.58.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $4.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.08. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm had revenue of $88.35 billion for the quarter, compared to the consensus estimate of $87.95 billion. During the same quarter in the prior year, the company posted $3.84 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts predict that Cencora will post 17.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings upgraded Cencora from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 6th. Morgan Stanley upped their target price on Cencora from $346.00 to $377.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Citigroup reiterated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Robert W. Baird lifted their price target on shares of Cencora from $373.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Finally, Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $368.38.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.