Cardinal Health (CAH) Releases FY19 Earnings Guidance

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Cardinal Health (NYSE:CAH) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.90-5.15 for the period, compared to the Thomson Reuters consensus estimate of $5.00. Cardinal Health also updated its FY 2019 guidance to $4.90-5.15 EPS.

CAH opened at $55.31 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.53 and a debt-to-equity ratio of 1.32. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.70 and a beta of 0.94. Cardinal Health has a 1 year low of $48.14 and a 1 year high of $75.75.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, November 8th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.21. The firm had revenue of $35.21 billion for the quarter, compared to the consensus estimate of $33.66 billion. Cardinal Health had a net margin of 0.19% and a return on equity of 22.59%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 EPS. On average, analysts expect that Cardinal Health will post 5.02 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be issued a $0.4763 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Monday, December 31st. Cardinal Health’s dividend payout ratio (DPR) is currently 38.20%.

Cardinal Health declared that its Board of Directors has authorized a share buyback program on Thursday, November 8th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

A number of brokerages recently weighed in on CAH. Royal Bank of Canada set a $57.00 price target on shares of Cardinal Health and gave the stock a hold rating in a report on Friday. Robert W. Baird cut their price target on shares of Cardinal Health from $51.00 to $50.00 and set a neutral rating on the stock in a report on Tuesday, August 7th. Argus cut their price target on shares of Cardinal Health from $85.00 to $75.00 and set a buy rating on the stock in a report on Monday, July 16th. Mizuho reissued a hold rating and issued a $53.00 price target on shares of Cardinal Health in a report on Sunday, August 12th. Finally, Zacks Investment Research downgraded shares of Cardinal Health from a hold rating to a sell rating in a report on Tuesday, October 9th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $61.08.

In related news, CEO Jon L. Giacomin sold 2,890 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $51.95, for a total value of $150,135.50. Following the transaction, the chief executive officer now directly owns 72,652 shares of the company’s stock, valued at approximately $3,774,271.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.

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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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Earnings History and Estimates for Cardinal Health (NYSE:CAH)

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