Cencora (NYSE:COR) Releases FY24 Earnings Guidance

Cencora (NYSE:COR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $13.35-13.55 for the period, compared to the consensus estimate of $13.45. Cencora also updated its FY 2024 guidance to 13.350-13.550 EPS.

Wall Street Analyst Weigh In

Several research analysts have issued reports on COR shares. StockNews.com lowered shares of Cencora from a strong-buy rating to a buy rating in a report on Thursday, May 2nd. Leerink Partnrs reiterated an outperform rating on shares of Cencora in a research note on Monday, February 26th. Mizuho lifted their price objective on shares of Cencora from $192.00 to $224.00 and gave the company a neutral rating in a research note on Monday, February 5th. SVB Leerink began coverage on shares of Cencora in a research note on Monday, February 26th. They set an outperform rating and a $261.00 price target for the company. Finally, Robert W. Baird boosted their price target on shares of Cencora from $275.00 to $277.00 and gave the company an outperform rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $233.90.

Cencora Price Performance

Shares of COR traded down $0.10 during midday trading on Friday, hitting $219.72. 130,337 shares of the company traded hands, compared to its average volume of 1,289,394. The stock has a 50-day moving average of $234.60 and a 200-day moving average of $222.17. Cencora has a one year low of $163.37 and a one year high of $246.75. The firm has a market cap of $43.82 billion, a P/E ratio of 24.05, a PEG ratio of 1.51 and a beta of 0.47. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.53.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The firm had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the business posted $3.50 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Cencora will post 13.44 EPS for the current fiscal year.

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 given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is 22.32%.

Insider Buying and Selling

In other Cencora news, EVP Elizabeth S. Campbell sold 6,977 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $238.12, for a total value of $1,661,363.24. Following the completion of the sale, the executive vice president now owns 8,246 shares of the company’s stock, valued at $1,963,537.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cencora news, EVP Elizabeth S. Campbell sold 6,977 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $238.12, for a total value of $1,661,363.24. Following the completion of the sale, the executive vice president now owns 8,246 shares of the company’s stock, valued at $1,963,537.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,295 shares of company stock worth $17,747,944. Insiders own 15.80% of the company’s stock.

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.