Cencora (NYSE:COR) Issues Earnings Results, Beats Estimates By $0.15 EPS

Cencora (NYSE:COR - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.65 by $0.15, Briefing.com reports. Cencora had a return on equity of 323.23% and a net margin of 0.69%. The firm had revenue of $68.41 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the firm earned $3.50 EPS. Cencora's quarterly revenue was up 7.8% compared to the same quarter last year. Cencora updated its FY24 guidance to $13.30-13.50 EPS.

Cencora Stock Performance

Shares of NYSE:COR traded down $4.45 during mid-day trading on Thursday, reaching $224.75. 2,042,113 shares of the company traded hands, compared to its average volume of 1,289,394. Cencora has a 52 week low of $163.37 and a 52 week high of $246.75. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.88 and a quick ratio of 0.52. The firm has a market cap of $44.83 billion, a PE ratio of 24.97, a PEG ratio of 1.83 and a beta of 0.47. The company's 50 day moving average price is $238.76 and its 200-day moving average price is $218.63.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $0.51 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.91%. Cencora's dividend payout ratio (DPR) is presently 22.22%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COR. StockNews.com raised Cencora from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 1st. Mizuho upped their price target on shares of Cencora from $192.00 to $224.00 and gave the company a "neutral" rating in a research report on Monday, February 5th. Citigroup upped their price target on shares of Cencora from $265.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday. SVB Leerink assumed coverage on shares of Cencora in a research report on Monday, February 26th. They set an "outperform" rating and a $261.00 price target for the company. Finally, Robert W. Baird upped their price target on shares of Cencora from $275.00 to $277.00 and gave the company an "outperform" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.18.

Insiders Place Their Bets

In other Cencora news, CEO Steven H. Collis sold 10,754 shares of the company's stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $67,702,698.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cencora news, COO Robert P. Mauch sold 57,564 shares of the company's stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $235.09, for a total value of $13,532,720.76. Following the completion of the transaction, the chief operating officer now directly owns 24,412 shares in the company, valued at approximately $5,739,017.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the transaction, the chief executive officer now owns 285,088 shares of the company's stock, valued at $67,702,698.24. The disclosure for this sale can be found here. Insiders sold 4,288,790 shares of company stock worth $1,009,641,379 in the last three months. 15.80% of the stock is owned by company insiders.

Cencora Company Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.