$33.41 Billion in Sales Expected for Cardinal Health, Inc. (CAH) This Quarter
Equities research analysts forecast that Cardinal Health, Inc. (NYSE:CAH) will announce $33.41 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Cardinal Health’s earnings, with the lowest sales estimate coming in at $32.80 billion and the highest estimate coming in at $33.85 billion. Cardinal Health posted sales of $32.04 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.3%. The firm is expected to issue its next earnings results on Monday, October 30th.
On average, analysts expect that Cardinal Health will report full year sales of $33.41 billion for the current fiscal year, with estimates ranging from $135.55 billion to $138.52 billion. For the next fiscal year, analysts forecast that the firm will post sales of $142.01 billion per share, with estimates ranging from $137.01 billion to $147.59 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Cardinal Health.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The company had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. During the same period last year, the firm earned $1.14 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis.
A number of research analysts have weighed in on the company. Royal Bank Of Canada assumed coverage on Cardinal Health in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $72.00 target price on the stock. Jefferies Group LLC restated a “hold” rating and set a $77.00 target price on shares of Cardinal Health in a research report on Thursday, July 27th. Evercore ISI reiterated an “outperform” rating on shares of Cardinal Health in a research report on Tuesday, July 4th. UBS AG reiterated a “neutral” rating and set a $76.00 price target (down previously from $79.00) on shares of Cardinal Health in a research note on Wednesday, August 9th. Finally, Credit Suisse Group cut their price target on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Cardinal Health presently has a consensus rating of “Hold” and a consensus price target of $76.81.
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Several institutional investors have recently modified their holdings of the business. 1st Global Advisors Inc. grew its stake in Cardinal Health by 18.7% in the 1st quarter. 1st Global Advisors Inc. now owns 18,240 shares of the company’s stock valued at $1,487,000 after acquiring an additional 2,876 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Cardinal Health by 7.9% in the first quarter. Ameritas Investment Partners Inc. now owns 14,887 shares of the company’s stock valued at $1,213,000 after purchasing an additional 1,091 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Cardinal Health by 2.9% in the first quarter. Envestnet Asset Management Inc. now owns 35,176 shares of the company’s stock valued at $2,868,000 after purchasing an additional 993 shares during the period. Covenant Multifamily Offices LLC grew its position in shares of Cardinal Health by 19.3% in the first quarter. Covenant Multifamily Offices LLC now owns 60,398 shares of the company’s stock valued at $4,925,000 after purchasing an additional 9,752 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its position in shares of Cardinal Health by 304.3% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 160,539 shares of the company’s stock valued at $13,063,000 after purchasing an additional 120,833 shares during the period. Institutional investors and hedge funds own 87.98% of the company’s stock.
Shares of Cardinal Health (NYSE CAH) opened at 67.60 on Wednesday. The company has a market capitalization of $21.39 billion, a P/E ratio of 16.77 and a beta of 0.86. The firm has a 50-day moving average of $67.07 and a 200-day moving average of $73.63. Cardinal Health has a 12 month low of $62.70 and a 12 month high of $84.88.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be given a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Friday, September 29th. Cardinal Health’s dividend payout ratio is currently 45.79%.
About Cardinal Health
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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