Cardinal Health, Inc. (CAH) Expected to Announce Quarterly Sales of $32.84 Billion
Equities analysts expect Cardinal Health, Inc. (NYSE:CAH) to announce $32.84 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Cardinal Health’s earnings. The lowest sales estimate is $32.11 billion and the highest is $33.38 billion. Cardinal Health reported sales of $31.38 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, August 1st.
According to Zacks, analysts expect that Cardinal Health will report full year sales of $32.84 billion for the current fiscal year, with estimates ranging from $128.96 billion to $130.39 billion. For the next year, analysts forecast that the company will report sales of $138.54 billion per share, with estimates ranging from $136.71 billion to $140.53 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Cardinal Health.
Cardinal Health (NYSE:CAH) last released its 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. The company had revenue of $31.82 billion during the quarter, compared to analysts’ expectations of $32.30 billion. Cardinal Health had a return on equity of 25.78% and a net margin of 1.05%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 EPS.
A number of brokerages recently issued reports on CAH. Vetr lowered Cardinal Health from a “hold” rating to a “sell” rating and set a $79.00 target price for the company. in a research note on Monday, February 27th. Needham & Company LLC began coverage on Cardinal Health in a research note on Tuesday, April 4th. They issued a “hold” rating for the company. Evercore ISI upgraded Cardinal Health to an “outperform” rating in a research note on Thursday, April 6th. Zacks Investment Research upgraded Cardinal Health from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, ValuEngine lowered Cardinal Health from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Cardinal Health currently has a consensus rating of “Hold” and a consensus target price of $82.64.
Cardinal Health (NYSE:CAH) opened at 79.68 on Friday. The stock has a market cap of $25.17 billion, a PE ratio of 19.02 and a beta of 0.80. The stock has a 50 day moving average price of $73.78 and a 200-day moving average price of $76.35. Cardinal Health has a 1-year low of $62.70 and a 1-year high of $85.52.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd will be given a dividend of $0.4624 per share. The ex-dividend date of this dividend is Thursday, June 29th. This is a boost from Cardinal Health’s previous quarterly dividend of $0.45. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.32%. Cardinal Health’s dividend payout ratio (DPR) is 42.86%.
In other news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $72.87, for a total transaction of $1,695,684.90. Following the sale, the insider now directly owns 55,440 shares in the company, valued at approximately $4,039,912.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.94% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of CAH. Advisory Services Network LLC acquired a new stake in Cardinal Health during the first quarter worth approximately $120,000. Quadrant Capital Group LLC boosted its stake in Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock worth $156,000 after buying an additional 116 shares during the period. Northwest Quadrant Wealth Management LLC acquired a new stake in Cardinal Health during the fourth quarter worth approximately $173,000. Alpha Windward LLC boosted its stake in Cardinal Health by 1.8% in the first quarter. Alpha Windward LLC now owns 2,282 shares of the company’s stock worth $186,000 after buying an additional 41 shares during the period. Finally, MCF Advisors LLC boosted its stake in Cardinal Health by 11.5% in the first quarter. MCF Advisors LLC now owns 2,478 shares of the company’s stock worth $202,000 after buying an additional 256 shares during the period. Hedge funds and other institutional investors own 87.64% 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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