Cardinal Health (NYSE:CAH) Releases Earnings Results, Beats Expectations By $0.13 EPS

Cardinal Health (NYSE:CAH) posted its quarterly earnings results on Thursday. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.13, Briefing.com reports. The firm had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.74 EPS. Cardinal Health updated its FY24 guidance to $7.30-7.40 EPS and its FY25 guidance to at least $7.50 EPS.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $98.91 on Friday. The firm’s fifty day moving average is $109.10 and its two-hundred day moving average is $105.01. Cardinal Health has a 52-week low of $77.56 and a 52-week high of $116.04. The company has a market cap of $24.06 billion, a P/E ratio of 43.96, a P/E/G ratio of 0.99 and a beta of 0.71.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 2.02%. Cardinal Health’s payout ratio is 88.89%.

Wall Street Analyst Weigh In

CAH has been the topic of several analyst reports. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Evercore ISI upped their price target on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a report on Friday. SVB Leerink began coverage on Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price for the company. Finally, Wells Fargo & Company dropped their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.79.

Cardinal Health Company Profile

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.