Cardinal Health, Inc. Plans Quarterly Dividend of $0.51 (NYSE:CAH)

Key Points

• Cardinal Health, Inc. declared a quarterly dividend of $0.51 per share, payable on October 15th to investors of record by October 1st, resulting in a dividend yield of 1.4%.
• The company reported earnings of $2.08 per share for the last quarter, beating estimates, although revenue slightly missed consensus expectations at $60.16 billion.
• Analysts have given Cardinal Health a "Moderate Buy" rating, with a consensus target price of $163.20, following several target price increases from various financial institutions.

Cardinal Health, Inc. (NYSE:CAH - Get Free Report) declared a quarterly dividend on Friday, August 15th, RTT News reports. Investors of record on Wednesday, October 1st will be given a dividend of 0.5107 per share on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 1.4%.

Cardinal Health has a dividend payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cardinal Health to earn $8.95 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 22.8%.

Cardinal Health Stock Performance

Shares of CAH stock traded down $0.73 on Friday, hitting $149.49. The company's stock had a trading volume of 2,571,830 shares, compared to its average volume of 2,351,408. The stock's 50 day moving average is $159.63 and its 200-day moving average is $144.49. Cardinal Health has a fifty-two week low of $106.54 and a fifty-two week high of $168.44. The company has a market capitalization of $35.70 billion, a PE ratio of 23.18, a PEG ratio of 1.32 and a beta of 0.67.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. The business had revenue of $60.16 billion for the quarter, compared to the consensus estimate of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. Cardinal Health's revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.84 earnings per share. On average, research analysts forecast that Cardinal Health will post 7.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on CAH shares. Wells Fargo & Company reissued an "overweight" rating and issued a $185.00 target price (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday. Leerink Partners set a $186.00 target price on shares of Cardinal Health and gave the stock an "outperform" rating in a report on Tuesday. Bank of America increased their target price on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Citigroup reissued a "neutral" rating and issued a $170.00 target price (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Cardinal Health in a report on Tuesday. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of "Moderate Buy" and a consensus target price of $163.20.

About Cardinal Health

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.

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