Cardinal Health, Inc. (NYSE:CAH) Forecasted to Earn Q4 2024 Earnings of $1.75 Per Share

Cardinal Health, Inc. (NYSE:CAH) – Leerink Partnrs lowered their Q4 2024 EPS estimates for shares of Cardinal Health in a report issued on Thursday, May 2nd. Leerink Partnrs analyst M. Cherny now anticipates that the company will post earnings per share of $1.75 for the quarter, down from their previous forecast of $1.79. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Cardinal Health’s current full-year earnings is $7.34 per share. Leerink Partnrs also issued estimates for Cardinal Health’s Q1 2025 earnings at $1.72 EPS, Q2 2025 earnings at $1.82 EPS, Q3 2025 earnings at $2.10 EPS, FY2025 earnings at $7.60 EPS, FY2026 earnings at $8.41 EPS, FY2027 earnings at $9.22 EPS and FY2028 earnings at $10.05 EPS.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same period in the previous year, the firm posted $1.74 EPS. Cardinal Health’s revenue was up 8.7% on a year-over-year basis.

A number of other research firms also recently weighed in on CAH. UBS Group increased their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Robert W. Baird lowered their price target on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. SVB Leerink assumed coverage on Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 2nd. Finally, Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $105.79.

Cardinal Health Price Performance

NYSE CAH opened at $99.72 on Monday. The company has a 50-day moving average of $108.67 and a 200-day moving average of $105.27. Cardinal Health has a 12 month low of $80.90 and a 12 month high of $116.04. The company has a market cap of $24.29 billion, a P/E ratio of 44.32, a P/E/G ratio of 1.01 and a beta of 0.71.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.5056 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 2.03%. Cardinal Health’s dividend payout ratio is 88.89%.

Institutional Trading of Cardinal Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Clearstead Trust LLC bought a new stake in shares of Cardinal Health in the 4th quarter worth about $25,000. Cornerstone Planning Group LLC acquired a new stake in Cardinal Health during the third quarter valued at approximately $26,000. Raleigh Capital Management Inc. lifted its holdings in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Cardinal Health in the 4th quarter worth approximately $30,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $32,000. Institutional investors own 87.17% of the company’s stock.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.