Cardinal Health (NYSE:CAH) Issues 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.

Wall Street Analyst Weigh In

Several analysts have weighed in on CAH shares. Barclays began coverage on Cardinal Health in a research note on Wednesday, January 3rd. They set an overweight rating and a $117.00 target price on the stock. UBS Group upped their price target on Cardinal Health from $122.00 to $125.00 and gave the company a buy rating in a report on Monday, February 5th. SVB Leerink began coverage on Cardinal Health in a research note on Monday, February 26th. They issued an outperform rating and a $125.00 price objective on the stock. Argus upgraded shares of Cardinal Health from a hold rating to a buy rating in a research report on Friday, February 9th. Finally, Leerink Partnrs reaffirmed an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. One research 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 company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $103.07.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $103.37 on Wednesday. Cardinal Health has a one year low of $77.56 and a one year high of $116.04. The business has a 50-day simple moving average of $109.56 and a 200 day simple moving average of $104.60. The firm has a market capitalization of $25.14 billion, a price-to-earnings ratio of 40.70, a PEG ratio of 0.99 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 (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. During the same period in the prior year, the company posted $1.32 earnings per share. Cardinal Health’s quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts expect that Cardinal Health will post 7.28 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s payout ratio is 78.74%.

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.