Cencora (NYSE:COR) Updates FY24 Earnings Guidance

Cencora (NYSE:COR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $13.30-13.50 for the period, compared to the consensus earnings per share estimate of $13.45.

Cencora Trading Down 0.4 %

Shares of COR traded down $0.79 during mid-day trading on Friday, reaching $223.95. The company had a trading volume of 2,222,046 shares, compared to its average volume of 1,292,259. The stock has a market cap of $44.67 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 1.69 and a beta of 0.47. The firm has a fifty day simple moving average of $238.31 and a 200-day simple moving average of $218.93. Cencora has a fifty-two week low of $163.37 and a fifty-two week high of $246.75. The company has a current ratio of 0.89, a quick ratio of 0.52 and a debt-to-equity ratio of 3.41.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.65 by $0.15. The business had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.50 EPS. On average, sell-side analysts anticipate that Cencora will post 13.46 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is 22.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Cencora from a strong-buy rating to a buy rating in a research report on Thursday. Citigroup boosted their target price on shares of Cencora from $265.00 to $280.00 and gave the stock a buy rating in a research report on Tuesday. Mizuho boosted their target price on shares of Cencora from $192.00 to $224.00 and gave the stock a neutral rating in a research report on Monday, February 5th. Leerink Partnrs reissued an outperform rating on shares of Cencora in a research report on Monday, February 26th. Finally, Robert W. Baird boosted their price objective on shares of Cencora from $275.00 to $277.00 and gave the company an outperform rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $233.90.

Insider Activity at Cencora

In other Cencora news, EVP Gina Clark sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $230.48, for a total value of $253,528.00. Following the sale, the executive vice president now owns 24,802 shares in the company, valued at $5,716,364.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Gina Clark sold 1,100 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $230.48, for a total value of $253,528.00. Following the completion of the transaction, the executive vice president now owns 24,802 shares of the company’s stock, valued at $5,716,364.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steven H. Collis sold 10,754 shares of Cencora stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the sale, the chief executive officer now owns 285,088 shares in the company, valued at $67,702,698.24. The disclosure for this sale can be found here. Insiders have sold a total of 4,288,790 shares of company stock worth $1,009,641,379 in the last ninety days. 15.80% of the stock is owned by insiders.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.