Cardinal Health (NYSE:CAH) Announces Quarterly Earnings Results

Cardinal Health (NYSE:CAH) released its quarterly earnings data on Thursday. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19, Zacks reports. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%.

Cardinal Health Stock Performance

NYSE CAH traded down $0.10 on Thursday, hitting $127.66. 1,028,776 shares of the stock traded hands, compared to its average volume of 2,036,015. The firm has a market capitalization of $30.90 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.57 and a beta of 0.63. The business’s fifty day moving average is $121.90 and its two-hundred day moving average is $113.75. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $132.84.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were paid a $0.5056 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.58%. Cardinal Health’s payout ratio is 39.30%.

Analyst Ratings Changes

Several equities analysts recently weighed in on CAH shares. Mizuho started coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target on the stock. Morgan Stanley lifted their target price on Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft increased their price target on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Finally, TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.21.

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.