Analysts Anticipate Cardinal Health, Inc. (CAH) Will Announce Quarterly Sales of $33.44 Billion
Equities analysts predict that Cardinal Health, Inc. (NYSE:CAH) will post sales of $33.44 billion for the current quarter, according to Zacks. Five analysts have issued estimates for Cardinal Health’s earnings, with the highest sales estimate coming in at $33.85 billion and the lowest estimate coming in at $32.93 billion. Cardinal Health posted sales of $32.04 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.4%. The business is scheduled to report its next quarterly earnings results on Monday, October 30th.
On average, analysts expect that Cardinal Health will report full year sales of $33.44 billion for the current financial year, with estimates ranging from $135.97 billion to $138.52 billion. For the next fiscal year, analysts expect that the business will report sales of $142.09 billion per share, with estimates ranging from $137.01 billion to $147.59 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Cardinal Health.
Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The business had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year.
Several equities research analysts have weighed in on CAH shares. Needham & Company LLC restated a “hold” rating on shares of Cardinal Health in a report on Sunday, September 10th. Jefferies Group LLC set a $77.00 price objective on Cardinal Health and gave the company a “hold” rating in a report on Tuesday, August 29th. BidaskClub downgraded Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. UBS AG reissued a “neutral” rating and issued a $76.00 target price (down from $79.00) on shares of Cardinal Health in a research report on Wednesday, August 9th. Finally, Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $79.58.
Cardinal Health (CAH) opened at 67.45 on Friday. The stock’s 50 day moving average price is $68.56 and its 200 day moving average price is $75.15. The stock has a market cap of $21.34 billion, a price-to-earnings ratio of 16.74 and a beta of 0.85. Cardinal Health has a 52 week low of $62.70 and a 52 week high of $84.88.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 45.79%.
Several hedge funds and other institutional investors have recently modified their holdings of CAH. Bronfman E.L. Rothschild L.P. boosted its position in shares of Cardinal Health by 31.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock worth $123,000 after buying an additional 382 shares during the period. Advisory Services Network LLC lifted its position in shares of Cardinal Health by 18.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock valued at $136,000 after acquiring an additional 270 shares during the last quarter. JFS Wealth Advisors LLC lifted its position in shares of Cardinal Health by 14.3% during the 2nd quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock valued at $152,000 after acquiring an additional 244 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Cardinal Health during the 2nd quarter valued at $164,000. Finally, First Personal Financial Services lifted its position in shares of Cardinal Health by 127.5% during the 2nd quarter. First Personal Financial Services now owns 2,209 shares of the company’s stock valued at $172,000 after acquiring an additional 1,238 shares during the last quarter. Institutional investors and hedge funds own 87.68% 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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