Wall Street analysts expect that Cardinal Health Inc (NYSE:CAH) will report $34.69 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Cardinal Health’s earnings, with the lowest sales estimate coming in at $34.28 billion and the highest estimate coming in at $35.12 billion. Cardinal Health reported sales of $33.15 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.6%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, February 8th.
On average, analysts expect that Cardinal Health will report full year sales of $34.69 billion for the current fiscal year, with estimates ranging from $134.54 billion to $136.94 billion. For the next financial year, analysts forecast that the company will post sales of $140.52 billion per share, with estimates ranging from $136.76 billion to $144.42 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Cardinal Health.
Cardinal Health (NYSE:CAH) last posted its earnings results on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.09. Cardinal Health had a net margin of 0.84% and a return on equity of 25.24%. The business had revenue of $32.64 billion for the quarter, compared to analysts’ expectations of $33.48 billion. During the same period in the prior year, the company posted $1.24 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year.
CAH has been the topic of several recent analyst reports. Morgan Stanley cut shares of Cardinal Health from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 20th. Argus cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Mizuho set a $70.00 target price on shares of Cardinal Health and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Deutsche Bank began coverage on shares of Cardinal Health in a research report on Monday, December 4th. They set a “hold” rating and a $64.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. Cardinal Health has an average rating of “Hold” and a consensus price target of $73.58.
Several hedge funds have recently added to or reduced their stakes in the stock. Plancorp LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at $313,000. State of Alaska Department of Revenue grew its holdings in shares of Cardinal Health by 113.2% during the 4th quarter. State of Alaska Department of Revenue now owns 41,843 shares of the company’s stock valued at $2,561,000 after purchasing an additional 22,220 shares during the last quarter. Oakbrook Investments LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at $285,000. Cardinal Capital Management Inc. grew its holdings in shares of Cardinal Health by 22.5% during the 4th quarter. Cardinal Capital Management Inc. now owns 8,700 shares of the company’s stock valued at $533,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Cardinal Health by 5.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,352,961 shares of the company’s stock valued at $82,896,000 after purchasing an additional 72,892 shares during the last quarter. 88.36% of the stock is currently owned by institutional investors.
Shares of Cardinal Health (NYSE CAH) opened at $71.91 on Friday. Cardinal Health has a 52 week low of $54.66 and a 52 week high of $84.88. The company has a quick ratio of 0.52, a current ratio of 1.06 and a debt-to-equity ratio of 1.35. The stock has a market cap of $22,623.18, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 1.65 and a beta of 0.85.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Tuesday, January 2nd were issued a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Friday, December 29th. Cardinal Health’s dividend payout ratio is currently 53.78%.
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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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