Cardinal Health Inc (NYSE:CAH) announced a quarterly dividend on Wednesday, November 8th, RTT News reports. Stockholders of record on Tuesday, January 2nd will be given a dividend of 0.4624 per share on Monday, January 15th. This represents a $1.85 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, December 29th.
Cardinal Health has increased its dividend payment by an average of 12.2% per year over the last three years and has raised its dividend every year for the last 13 years. Cardinal Health has a dividend payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cardinal Health to earn $5.48 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 33.8%.
Shares of Cardinal Health (NYSE:CAH) opened at $69.11 on Friday. The company has a market capitalization of $21,780.00, a P/E ratio of 20.15, a PEG ratio of 1.84 and a beta of 0.85. The company has a current ratio of 1.06, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. Cardinal Health has a 1-year low of $54.66 and a 1-year high of $84.88.
Cardinal Health (NYSE:CAH) last announced its earnings results on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.09. The company had revenue of $32.64 billion for the quarter, compared to analysts’ expectations of $33.48 billion. Cardinal Health had a return on equity of 6.84% and a net margin of 0.36%. Cardinal Health’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 earnings per share. sell-side analysts expect that Cardinal Health will post 4.95 EPS for the current year.
Several brokerages recently issued reports on CAH. Cowen raised Cardinal Health to a “buy” rating and set a $74.00 target price on the stock in a research report on Tuesday, October 10th. Mizuho set a $70.00 price objective on Cardinal Health and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Robert W. Baird reissued a “hold” rating and issued a $73.00 price objective on shares of Cardinal Health in a research report on Sunday, September 17th. ValuEngine cut Cardinal Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Evercore ISI started coverage on Cardinal Health in a research report on Thursday, January 4th. They issued an “in-line” rating and a $67.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $72.99.
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Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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