$33.43 Billion in Sales Expected for Cardinal Health, Inc. (CAH) This Quarter
Brokerages predict that Cardinal Health, Inc. (NYSE:CAH) will report sales of $33.43 billion for the current quarter, Zacks reports. Seven analysts have made estimates for Cardinal Health’s earnings. The highest sales estimate is $33.85 billion and the lowest is $32.80 billion. Cardinal Health reported sales of $32.04 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.3%. The company is scheduled to announce its next earnings results before the market opens on Monday, November 6th.
On average, analysts expect that Cardinal Health will report full-year sales of $33.43 billion for the current fiscal year, with estimates ranging from $135.55 billion to $137.93 billion. For the next financial year, analysts forecast that the firm will report sales of $142.17 billion per share, with estimates ranging from $137.01 billion to $147.59 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Cardinal Health.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping 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 firm had revenue of $32.97 billion during the quarter, compared to analyst estimates of $32.73 billion. During the same period in the previous year, the business posted $1.14 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis.
Several equities analysts recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cardinal Health in a report on Thursday, October 12th. Cowen and Company upgraded Cardinal Health to a “buy” rating and set a $74.00 target price on the stock in a research report on Tuesday, October 10th. Royal Bank Of Canada started coverage on Cardinal Health in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $72.00 target price on the stock. Robert W. Baird restated a “hold” rating and issued a $73.00 price objective on shares of Cardinal Health in a report on Sunday, September 17th. Finally, 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $76.54.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAH. Bronfman E.L. Rothschild L.P. increased its stake in 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 acquiring an additional 382 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of Cardinal Health by 18.4% in the second quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock valued at $136,000 after buying an additional 270 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Cardinal Health by 14.3% in the second quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock valued at $152,000 after buying an additional 244 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Cardinal Health in the second quarter valued at about $164,000. Finally, First Personal Financial Services grew its stake in shares of Cardinal Health by 127.5% in the second quarter. First Personal Financial Services now owns 2,209 shares of the company’s stock valued at $172,000 after buying an additional 1,238 shares in the last quarter. Hedge funds and other institutional investors own 87.88% of the company’s stock.
Cardinal Health (NYSE CAH) opened at 66.71 on Monday. Cardinal Health has a 12-month low of $62.70 and a 12-month high of $84.88. The company has a 50 day moving average of $67.07 and a 200-day moving average of $72.28. The stock has a market cap of $21.11 billion, a P/E ratio of 16.55 and a beta of 0.86.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd were given a $0.4624 dividend. The ex-dividend date of this dividend was Friday, September 29th. This represents a $1.85 annualized dividend and a dividend yield of 2.77%. Cardinal Health’s dividend payout ratio is currently 45.79%.
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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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