Cencora (NYSE:COR) Issues FY 2024 Earnings Guidance

Cencora (NYSE:COR) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 13.350-13.550 for the period, compared to the consensus EPS estimate of 13.440. The company issued revenue guidance of -. Cencora also updated its FY24 guidance to $13.35-13.55 EPS.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Citigroup boosted their price objective on Cencora from $265.00 to $280.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. SVB Leerink began coverage on Cencora in a research note on Monday, February 26th. They set an outperform rating and a $261.00 price target on the stock. Leerink Partnrs restated an outperform rating on shares of Cencora in a research note on Monday, February 26th. StockNews.com lowered Cencora from a strong-buy rating to a buy rating in a research note on Thursday, May 2nd. Finally, Robert W. Baird boosted their price target on Cencora from $275.00 to $277.00 and gave the company an outperform rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora has a consensus rating of Moderate Buy and an average price target of $233.90.

Cencora Trading Down 0.4 %

COR stock opened at $218.89 on Friday. Cencora has a 1-year low of $163.37 and a 1-year high of $246.75. The firm has a market cap of $43.66 billion, a P/E ratio of 23.95, a P/E/G ratio of 1.53 and a beta of 0.47. The business’s 50 day moving average is $233.86 and its 200-day moving average is $222.49. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41.

Cencora (NYSE:COR) last released its quarterly earnings data 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. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The company had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the company posted $3.50 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Cencora will post 13.44 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.51 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.93%. Cencora’s dividend payout ratio is currently 22.32%.

Insider Activity

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the sale, the insider now directly owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the sale, the insider now directly owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth S. Campbell sold 6,977 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $238.12, for a total value of $1,661,363.24. Following the sale, the executive vice president now owns 8,246 shares in the company, valued at $1,963,537.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,934,685 shares of company stock worth $417,739,921. Company insiders own 15.80% of the company’s stock.

Cencora Company Profile

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.