Brokers Offer Predictions for Cardinal Health, Inc.'s FY2024 Earnings (NYSE:CAH)

Cardinal Health, Inc. (NYSE:CAH - Free Report) - Stock analysts at Zacks Research increased their FY2024 earnings per share estimates for shares of Cardinal Health in a research report issued to clients and investors on Wednesday, April 17th. Zacks Research analyst D. Dey now forecasts that the company will post earnings of $7.22 per share for the year, up from their prior estimate of $7.21. The consensus estimate for Cardinal Health's current full-year earnings is $7.28 per share. Zacks Research also issued estimates for Cardinal Health's Q4 2024 earnings at $1.74 EPS, Q1 2025 earnings at $1.81 EPS, Q4 2025 earnings at $2.08 EPS, FY2025 earnings at $7.95 EPS and FY2026 earnings at $8.18 EPS.

Other analysts have also issued reports about the stock. SVB Leerink assumed coverage on shares of Cardinal Health in a research note on Monday, February 26th. They set an "outperform" rating and a $125.00 target price for the company. TheStreet downgraded Cardinal Health from a "b-" rating to a "c+" rating in a research report on Wednesday, December 27th. Leerink Partnrs restated an "outperform" rating on shares of Cardinal Health in a report on Monday, February 26th. Argus raised Cardinal Health from a "hold" rating to a "buy" rating in a research report on Friday, February 9th. Finally, Barclays began coverage on Cardinal Health in a research report on Wednesday, January 3rd. They issued an "overweight" rating and a $117.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $103.07.

Cardinal Health Stock Performance

Shares of CAH stock traded down $0.52 during mid-day trading on Thursday, hitting $106.00. 1,524,505 shares of the stock traded hands, compared to its average volume of 2,244,482. The firm has a market cap of $25.78 billion, a price-to-earnings ratio of 41.73, a price-to-earnings-growth ratio of 1.03 and a beta of 0.68. The company's 50-day simple moving average is $109.53 and its 200-day simple moving average is $104.03. Cardinal Health has a twelve month low of $77.56 and a twelve month high of $116.04.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The business had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. During the same quarter in the prior year, the company posted $1.32 earnings per share. The company's quarterly revenue was up 11.6% compared to the same quarter last year.

Hedge Funds Weigh In On Cardinal Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Clearstead Trust LLC bought a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $25,000. Cornerstone Planning Group LLC bought a new stake in Cardinal Health in the third quarter worth approximately $26,000. Raleigh Capital Management Inc. increased its stake in shares of Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company's stock worth $28,000 after purchasing an additional 268 shares during the last quarter. BKM Wealth Management LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at $30,000. Finally, Clear Street Markets LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at $30,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health's dividend payout ratio is currently 78.74%.

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.