Equities research analysts expect Cardinal Health Inc (NYSE:CAH) to announce $36.94 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Cardinal Health’s earnings. The highest sales estimate is $37.30 billion and the lowest is $36.56 billion. Cardinal Health reported sales of $35.35 billion in the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The business is expected to report its next quarterly earnings report before the market opens on Thursday, August 8th.
On average, analysts expect that Cardinal Health will report full-year sales of $144.82 billion for the current financial year, with estimates ranging from $143.31 billion to $145.48 billion. For the next year, analysts anticipate that the company will report sales of $150.93 billion, with estimates ranging from $148.66 billion to $152.74 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Cardinal Health.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, May 9th. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.16. The firm had revenue of $35.23 billion for the quarter, compared to the consensus estimate of $35.09 billion. Cardinal Health’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $1.39 EPS.
CAH has been the topic of several research reports. ValuEngine upgraded shares of VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Zacks Investment Research cut shares of Glu Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Guggenheim initiated coverage on shares of Patterson Companies in a report on Wednesday, April 17th. They issued a “neutral” rating and a $23.00 target price on the stock. Finally, Wolfe Research initiated coverage on shares of Iqvia in a report on Tuesday, April 2nd. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $56.20.
Shares of CAH traded up $0.59 on Thursday, hitting $48.05. 130,786 shares of the stock traded hands, compared to its average volume of 3,013,567. Cardinal Health has a one year low of $42.01 and a one year high of $58.31. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.07 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $45.31. The stock has a market cap of $14.15 billion, a P/E ratio of 9.62, a PEG ratio of 1.50 and a beta of 1.26.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.4811 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Friday, June 28th. This is a boost from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s dividend payout ratio (DPR) is currently 38.40%.
Several institutional investors have recently modified their holdings of the company. Cetera Advisor Networks LLC lifted its stake in shares of Cardinal Health by 2.6% during the 4th quarter. Cetera Advisor Networks LLC now owns 7,566 shares of the company’s stock valued at $336,000 after buying an additional 195 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Cardinal Health by 15.1% during the 4th quarter. Advisory Services Network LLC now owns 1,497 shares of the company’s stock valued at $67,000 after buying an additional 196 shares in the last quarter. Strategic Wealth Advisors Group LLC lifted its stake in shares of Cardinal Health by 1.1% during the 1st quarter. Strategic Wealth Advisors Group LLC now owns 19,131 shares of the company’s stock valued at $938,000 after buying an additional 216 shares in the last quarter. First Hawaiian Bank lifted its stake in shares of Cardinal Health by 5.4% during the 1st quarter. First Hawaiian Bank now owns 4,317 shares of the company’s stock valued at $208,000 after buying an additional 222 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Cardinal Health by 9.4% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,610 shares of the company’s stock valued at $126,000 after buying an additional 224 shares in the last quarter. Institutional investors and hedge funds own 88.50% of the company’s stock.
Cardinal Health Company Profile
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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