Wall Street analysts predict that Cardinal Health, Inc. (NYSE:CAH) will report $38.48 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Cardinal Health's earnings, with estimates ranging from $38.11 billion to $38.76 billion. Cardinal Health reported sales of $37.34 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3.1%. The company is expected to issue its next earnings report before the market opens on Thursday, November 5th.
According to Zacks, analysts expect that Cardinal Health will report full-year sales of $160.02 billion for the current year, with estimates ranging from $159.29 billion to $160.83 billion. For the next financial year, analysts expect that the firm will report sales of $167.88 billion, with estimates ranging from $165.51 billion to $170.49 billion. Zacks Investment Research's sales averages are an average based on a survey of sell-side research analysts that cover Cardinal Health.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13. Cardinal Health had a positive return on equity of 130.94% and a negative net margin of 2.42%. The company had revenue of $36.70 billion during the quarter, compared to the consensus estimate of $36.82 billion. During the same period last year, the company earned $1.11 EPS. Cardinal Health's revenue for the quarter was down 1.7% on a year-over-year basis.
Several research firms recently commented on CAH. Zacks Investment Research upgraded Cardinal Health from a "sell" rating to a "hold" rating and set a $56.00 price objective for the company in a report on Tuesday, August 11th. Morgan Stanley lifted their price objective on Cardinal Health from $59.00 to $61.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Guggenheim upgraded Cardinal Health from a "neutral" rating to a "buy" rating in a research note on Monday, July 20th. UBS Group cut their price target on Cardinal Health from $65.00 to $64.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Finally, ValuEngine downgraded Cardinal Health from a "sell" rating to a "strong sell" rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of "Hold" and a consensus price target of $59.40.
Hedge funds have recently bought and sold shares of the company. Demars Financial Group LLC purchased a new position in shares of Cardinal Health during the 2nd quarter valued at about $33,000. Nachman Norwood & Parrott Inc purchased a new position in shares of Cardinal Health during the 3rd quarter valued at about $37,000. Red Door Wealth Management LLC lifted its position in shares of Cardinal Health by 21.8% during the 2nd quarter. Red Door Wealth Management LLC now owns 1,121 shares of the company's stock valued at $58,000 after buying an additional 201 shares in the last quarter. CSat Investment Advisory L.P. lifted its holdings in Cardinal Health by 35.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,192 shares of the company's stock worth $62,000 after purchasing an additional 312 shares in the last quarter. Finally, Trust Co. of Vermont purchased a new position in Cardinal Health in the 2nd quarter worth approximately $66,000. 84.72% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CAH opened at $49.34 on Monday. Cardinal Health has a one year low of $39.05 and a one year high of $60.69. The stock has a 50-day moving average of $47.84 and a 200 day moving average of $51.07. The company has a market capitalization of $14.48 billion, a price-to-earnings ratio of -3.95, a PEG ratio of 1.61 and a beta of 0.94. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.54 and a current ratio of 1.10.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were given a dividend of $0.4859 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.94%. Cardinal Health's payout ratio is currently 35.60%.
Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. The company operates through two segments, Pharmaceutical and Medical.
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7 Valuable China Stocks That May Get Delisted
As if investors didn’t have enough to think about in 2020, tensions between the United States and China are continuing to flare up. One of the issues, of course, is the “what did they know and when did they know it” events surrounding the novel coronavirus. There are also issues surrounding global supply chains and the fate of 5G networking.
But another issue that should be drawing the concern of investors is the threat of Chinese stocks being delisted from American exchanges. On Friday, June 26 Luckin Coffee was delisted from the NASDAQ. The company had been in hot water since reports early this year that it had credited itself with thousands of phantom sales.
But that isn’t the reason for the delisting. The reality is that Chinese companies don’t abide by the same agreed upon accounting standards as American companies. And that can make it harder for investors to get an accurate picture of what is going on with their business at a given moment.
However, like most issues between the two countries, it’s not as simple as that. There are Chinese companies that are considering voluntarily and unilaterally removing themselves from American exchanges and list on the Hong Kong or Shanghai exchanges.
While neither of these moves would mean that U.S. investors would be prohibited from trading these stocks, it could make it more difficult.
U.S. relations with China will be an issue during this election year, and likely beyond. It would be well worth your time and attention to pay careful attention to your current or planned exposure to these China stocks.
View the "7 Valuable China Stocks That May Get Delisted".