Cardinal Health (NYSE:CAH) Releases FY 2024 Earnings Guidance

Cardinal Health (NYSE:CAH - Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 7.200-7.350 for the period, compared to the consensus earnings per share estimate of 7.290. The company issued revenue guidance of -. Cardinal Health also updated its FY24 guidance to $7.20-7.35 EPS.

Cardinal Health Trading Down 5.0 %

Shares of CAH stock traded down $5.36 during trading hours on Monday, hitting $102.83. 5,287,241 shares of the company were exchanged, compared to its average volume of 2,274,301. The company has a market capitalization of $25.01 billion, a PE ratio of 40.06, a PEG ratio of 1.04 and a beta of 0.68. Cardinal Health has a 52 week low of $77.56 and a 52 week high of $116.04. The business has a 50 day moving average of $109.59 and a two-hundred day moving average of $104.41.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. During the same quarter last year, the business posted $1.32 EPS. The company's revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts forecast that Cardinal Health will post 7.28 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.95%. Cardinal Health's payout ratio is 78.74%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Argus upgraded shares of Cardinal Health from a hold rating to a buy rating in a research note on Friday, February 9th. Leerink Partnrs reaffirmed an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. SVB Leerink assumed coverage on shares of Cardinal Health in a research report on Monday, February 26th. They issued an outperform rating and a $125.00 price objective on the stock. UBS Group lifted their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a buy rating in a report on Monday, February 5th. Finally, TheStreet cut shares of Cardinal Health from a b- rating to a c+ rating in a research note on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $103.07.

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.