Brokers Issue Forecasts for Cardinal Health Inc’s FY2017 Earnings (CAH)
Cardinal Health Inc (NYSE:CAH) – Stock analysts at Jefferies Group issued their FY2017 earnings per share estimates for shares of Cardinal Health in a report released on Wednesday. Jefferies Group analyst B. Tanquilut anticipates that the company will earn $5.36 per share for the year. Jefferies Group has a “Hold” rating and a $77.00 price objective on the stock. Jefferies Group also issued estimates for Cardinal Health’s Q4 2017 earnings at $1.26 EPS, Q1 2018 earnings at $1.18 EPS, Q2 2018 earnings at $1.34 EPS, Q3 2018 earnings at $1.41 EPS, Q4 2018 earnings at $1.30 EPS and FY2018 earnings at $5.23 EPS.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Monday, May 1st. The company reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.07. Cardinal Health had a return on equity of 25.52% and a net margin of 1.06%. The company had revenue of $31.82 billion during the quarter, compared to analysts’ expectations of $32.30 billion. During the same period in the prior year, the company earned $1.43 EPS. Cardinal Health’s revenue was up 3.8% compared to the same quarter last year.
Several other analysts also recently weighed in on CAH. Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, February 10th. Needham & Company LLC assumed coverage on shares of Cardinal Health in a research note on Tuesday, April 4th. They issued a “hold” rating for the company. Evercore ISI boosted their price target on shares of Cardinal Health from $77.50 to $78.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 2nd. Credit Suisse Group AG reissued a “buy” rating and issued a $81.00 price target on shares of Cardinal Health in a research note on Tuesday, May 2nd. Finally, Barclays PLC reissued an “overweight” rating and issued a $82.00 price target (down from $88.00) on shares of Cardinal Health in a research note on Saturday, April 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the stock. Cardinal Health has an average rating of “Hold” and an average price target of $82.71.
Cardinal Health (NYSE:CAH) traded up 0.89% during mid-day trading on Thursday, reaching $72.24. The company had a trading volume of 462,986 shares. Cardinal Health has a 12-month low of $62.70 and a 12-month high of $85.52. The firm has a market capitalization of $22.82 billion, a price-to-earnings ratio of 17.25 and a beta of 0.71. The firm has a 50-day moving average price of $75.93 and a 200 day moving average price of $75.51.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd will be paid a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a dividend yield of 2.58%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, June 29th. Cardinal Health’s dividend payout ratio is 43.17%.
In other news, CEO Jon L. Giacomin sold 23,270 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $72.87, for a total transaction of $1,695,684.90. Following the completion of the transaction, the chief executive officer now directly owns 55,440 shares of the company’s stock, valued at $4,039,912.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.94% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV bought a new position in shares of Cardinal Health during the fourth quarter valued at about $101,000. Advisory Services Network LLC bought a new position in shares of Cardinal Health during the first quarter valued at about $120,000. SRB Corp boosted its position in shares of Cardinal Health by 4.6% in the third quarter. SRB Corp now owns 1,914 shares of the company’s stock valued at $149,000 after buying an additional 84 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock valued at $156,000 after buying an additional 116 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC bought a new position in shares of Cardinal Health during the fourth quarter valued at about $173,000. Institutional investors own 85.84% of the company’s stock.
Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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