Cardinal Health Inc (NYSE:CAH) declared a quarterly dividend on Monday, May 11th, Zacks reports. Investors of record on Wednesday, July 1st will be given a dividend of 0.486 per share on Wednesday, July 15th. This represents a $1.94 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a boost from Cardinal Health’s previous quarterly dividend of $0.48.
Cardinal Health has raised its dividend payment by an average of 2,779.4% per year over the last three years and has increased its dividend every year for the last 15 years. Cardinal Health has a dividend payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cardinal Health to earn $5.35 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 36.3%.
Shares of NYSE CAH opened at $50.55 on Monday. The business has a 50-day moving average of $53.17 and a two-hundred day moving average of $51.92. The company has a debt-to-equity ratio of 5.60, a current ratio of 1.05 and a quick ratio of 0.53. Cardinal Health has a 1 year low of $39.05 and a 1 year high of $60.69. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of -3.60, a price-to-earnings-growth ratio of 2.19 and a beta of 0.99.
Cardinal Health (NYSE:CAH) last released its earnings results on Monday, May 11th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.19. Cardinal Health had a positive return on equity of 69.23% and a negative net margin of 2.71%. The company had revenue of $39.16 billion for the quarter, compared to analysts’ expectations of $37.04 billion. During the same quarter in the previous year, the firm posted $1.59 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts expect that Cardinal Health will post 5.3 earnings per share for the current year.
A number of equities research analysts recently issued reports on CAH shares. Mizuho upped their target price on Cardinal Health from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Zacks Investment Research downgraded Cardinal Health from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a report on Tuesday, May 12th. UBS Group upgraded Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the company from $48.00 to $64.00 in a report on Friday, May 15th. Morgan Stanley upped their price objective on shares of Cardinal Health from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Monday, June 15th. Finally, Credit Suisse Group cut shares of Cardinal Health to a “hold” rating and set a $53.00 price target on the stock. in a research report on Wednesday, April 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $57.82.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
Featured Story: S&P/TSX Index
Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.