Cardinal Health Inc (NYSE:CAH) – Analysts at Jefferies Financial Group lowered their Q3 2019 earnings estimates for shares of Cardinal Health in a note issued to investors on Friday, February 8th. Jefferies Financial Group analyst B. Tanquilut now anticipates that the company will post earnings per share of $1.43 for the quarter, down from their previous forecast of $1.50. Jefferies Financial Group currently has a “Hold” rating and a $61.00 target price on the stock. Jefferies Financial Group also issued estimates for Cardinal Health’s Q4 2019 earnings at $1.06 EPS and FY2020 earnings at $5.31 EPS.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 7th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.20. Cardinal Health had a negative net margin of 0.03% and a positive return on equity of 24.01%. The company had revenue of $37.70 billion for the quarter, compared to the consensus estimate of $36.09 billion. During the same period last year, the company posted $1.31 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year.
CAH opened at $53.19 on Monday. Cardinal Health has a 1-year low of $42.17 and a 1-year high of $73.23. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.51 and a current ratio of 1.05. The company has a market capitalization of $15.70 billion, a PE ratio of 10.64, a P/E/G ratio of 1.67 and a beta of 1.16.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be issued a $0.4763 dividend. The ex-dividend date of this dividend is Friday, March 29th. This represents a $1.91 dividend on an annualized basis and a yield of 3.58%. Cardinal Health’s dividend payout ratio (DPR) is presently 38.20%.
Cardinal Health announced that its Board of Directors has approved a stock repurchase program on Thursday, November 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently modified their holdings of CAH. Advisors Asset Management Inc. raised its holdings in Cardinal Health by 44.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 248,001 shares of the company’s stock worth $12,110,000 after purchasing an additional 76,816 shares during the last quarter. Schroder Investment Management Group raised its holdings in Cardinal Health by 9.7% during the 2nd quarter. Schroder Investment Management Group now owns 40,834 shares of the company’s stock worth $2,057,000 after purchasing an additional 3,612 shares during the last quarter. NEXT Financial Group Inc bought a new position in Cardinal Health during the 3rd quarter worth approximately $111,000. Bank of Montreal Can raised its holdings in Cardinal Health by 61.7% during the 3rd quarter. Bank of Montreal Can now owns 440,451 shares of the company’s stock worth $23,784,000 after purchasing an additional 168,010 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in Cardinal Health by 7.0% during the 3rd quarter. Capital Investment Advisors LLC now owns 87,704 shares of the company’s stock worth $4,736,000 after purchasing an additional 5,717 shares during the last quarter. Institutional investors and hedge funds own 90.75% of the company’s stock.
About Cardinal Health
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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