Cardinal Health, Inc. (NYSE:CAH) to Post FY2024 Earnings of $7.22 Per Share, Zacks Research Forecasts

Cardinal Health, Inc. (NYSE:CAH) – Zacks Research boosted their FY2024 earnings per share (EPS) estimates for Cardinal Health in a note issued to investors on Wednesday, April 17th. Zacks Research analyst D. Dey now forecasts that the company will post earnings of $7.22 per share for the year, up from their prior forecast of $7.21. The consensus estimate for Cardinal Health’s current full-year earnings is $7.28 per share. Zacks Research also issued estimates for Cardinal Health’s Q4 2024 earnings at $1.74 EPS, Q1 2025 earnings at $1.81 EPS, Q4 2025 earnings at $2.08 EPS, FY2025 earnings at $7.95 EPS and FY2026 earnings at $8.18 EPS.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. The firm had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.32 earnings per share.

A number of other equities analysts have also commented on the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. SVB Leerink started 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. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. UBS Group lifted their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, TheStreet lowered Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.07.

Cardinal Health Trading Down 0.5 %

NYSE:CAH opened at $106.00 on Thursday. The stock has a market cap of $25.78 billion, a P/E ratio of 41.73, a price-to-earnings-growth ratio of 1.03 and a beta of 0.68. The stock’s 50-day moving average is $109.53 and its 200-day moving average is $104.03. Cardinal Health has a 1-year low of $77.56 and a 1-year high of $116.04.

Hedge Funds Weigh In On Cardinal Health

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clearstead Trust LLC bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. lifted its stake in shares of Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after purchasing an additional 268 shares during the period. Cornerstone Planning Group LLC purchased a new position in shares of Cardinal Health in the 3rd quarter valued at approximately $26,000. BKM Wealth Management LLC purchased a new position in shares of Cardinal Health in the 4th quarter valued at approximately $30,000. Finally, Clear Street Markets LLC purchased a new position in shares of Cardinal Health in the 4th quarter valued at approximately $30,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.89%. Cardinal Health’s payout ratio is 78.74%.

Cardinal Health Company Profile

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.