Cardinal Health (NYSE:CAH) Releases FY24 Earnings Guidance

Cardinal Health (NYSE:CAH) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $7.20-7.35 for the period, compared to the consensus estimate of $7.29. Cardinal Health also updated its FY 2024 guidance to 7.200-7.350 EPS.

Cardinal Health Price Performance

CAH stock opened at $102.83 on Tuesday. Cardinal Health has a 1-year low of $77.56 and a 1-year high of $116.04. The firm has a fifty day moving average price of $109.58 and a two-hundred day moving average price of $104.50. The firm has a market cap of $25.01 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 1.04 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The firm had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. During the same quarter in the previous year, the firm earned $1.32 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts expect that Cardinal Health will post 7.28 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.5006 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.95%. Cardinal Health’s payout ratio is 78.74%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CAH shares. TheStreet lowered shares of Cardinal Health from a b- rating to a c+ rating in a research note on Wednesday, December 27th. Argus raised shares of Cardinal Health from a hold rating to a buy rating in a report on Friday, February 9th. Leerink Partnrs reissued an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. UBS Group boosted their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the company a buy rating in a report on Monday, February 5th. Finally, SVB Leerink began coverage on shares of Cardinal Health in a report on Monday, February 26th. They set an outperform rating and a $125.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cardinal Health has a consensus rating of Moderate Buy and a consensus price target of $103.07.

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.