Cardinal Health, Inc. (NYSE:CAH) Expected to Announce Quarterly Sales of $39.99 Billion


Share on StockTwits

Equities analysts expect that Cardinal Health, Inc. (NYSE:CAH) will announce sales of $39.99 billion for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Cardinal Health’s earnings, with the highest sales estimate coming in at $40.70 billion and the lowest estimate coming in at $39.42 billion. Cardinal Health posted sales of $39.16 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2.1%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, May 6th.

On average, analysts expect that Cardinal Health will report full year sales of $160.81 billion for the current financial year, with estimates ranging from $158.21 billion to $161.85 billion. For the next fiscal year, analysts expect that the firm will report sales of $168.24 billion, with estimates ranging from $164.46 billion to $170.67 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Cardinal Health.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 4th. The company reported $1.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.30. Cardinal Health had a return on equity of 123.28% and a net margin of 0.63%. The company had revenue of $41.54 billion for the quarter, compared to analyst estimates of $41.44 billion. During the same quarter in the prior year, the firm posted $1.52 EPS. Cardinal Health’s quarterly revenue was up 4.5% compared to the same quarter last year.

CAH has been the topic of several recent research reports. Morgan Stanley decreased their price target on Cardinal Health from $66.00 to $64.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 9th. TheStreet upgraded Cardinal Health from a “c” rating to a “b” rating in a report on Friday, February 5th. Finally, Wolfe Research upgraded Cardinal Health from an “underperform” rating to a “peer perform” rating in a research note on Friday, January 8th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Cardinal Health currently has a consensus rating of “Buy” and an average target price of $60.89.

Institutional investors and hedge funds have recently bought and sold shares of the company. Cambridge Financial Group Inc. grew its position in shares of Cardinal Health by 12.7% during the 4th quarter. Cambridge Financial Group Inc. now owns 121,852 shares of the company’s stock worth $6,526,000 after buying an additional 13,740 shares in the last quarter. PDS Planning Inc bought a new position in shares of Cardinal Health during the 4th quarter worth $278,000. Sivik Global Healthcare LLC bought a new position in shares of Cardinal Health during the 4th quarter worth $5,356,000. Cubic Asset Management LLC grew its position in shares of Cardinal Health by 78.5% during the 4th quarter. Cubic Asset Management LLC now owns 14,785 shares of the company’s stock worth $792,000 after buying an additional 6,500 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. grew its position in shares of Cardinal Health by 14.8% during the 4th quarter. NN Investment Partners Holdings N.V. now owns 39,546 shares of the company’s stock worth $2,118,000 after buying an additional 5,112 shares in the last quarter. 82.62% of the stock is currently owned by institutional investors and hedge funds.

NYSE:CAH traded up $0.47 during midday trading on Thursday, hitting $62.02. 1,826,987 shares of the company traded hands, compared to its average volume of 1,916,634. The firm’s fifty day moving average is $60.37 and its 200-day moving average is $55.16. Cardinal Health has a 12-month low of $44.65 and a 12-month high of $62.96. The firm has a market capitalization of $18.21 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.75 and a beta of 1.03. The company has a current ratio of 1.13, a quick ratio of 0.57 and a debt-to-equity ratio of 4.72.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Thursday, April 1st were given a dividend of $0.4859 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Wednesday, March 31st. Cardinal Health’s payout ratio is 35.60%.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. The company operates through two segments, Pharmaceutical and Medical.

Recommended Story: Percentage Decliners

Get a free copy of the Zacks research report on Cardinal Health (CAH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.