Cardinal Health, Inc. (NYSE:CAH) Increases Dividend to $0.49 Per Share

Cardinal Health, Inc. (NYSE:CAH) announced a quarterly dividend on Thursday, November 5th, Zacks reports. Stockholders of record on Monday, January 4th will be paid a dividend of 0.486 per share on Friday, January 15th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Thursday, December 31st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.49.

Cardinal Health has increased its dividend payment by 10.7% over the last three years and has increased its dividend annually for the last 33 consecutive years. Cardinal Health has a dividend payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cardinal Health to earn $6.17 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 31.4%.

Shares of Cardinal Health stock opened at $53.50 on Wednesday. The stock’s fifty day moving average is $54.72 and its 200-day moving average is $51.68. The firm has a market capitalization of $15.70 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.68 and a beta of 1.03. The company has a quick ratio of 0.57, a current ratio of 1.13 and a debt-to-equity ratio of 4.72. Cardinal Health has a 12-month low of $39.05 and a 12-month high of $60.69.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, November 5th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.37. The company had revenue of $39.10 billion for the quarter, compared to analyst estimates of $38.14 billion. Cardinal Health had a return on equity of 123.28% and a net margin of 0.63%. Cardinal Health’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.27 earnings per share. Analysts expect that Cardinal Health will post 5.87 EPS for the current year.

A number of research analysts have recently weighed in on CAH shares. Robert W. Baird lifted their price target on Cardinal Health from $64.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, November 6th. TheStreet upgraded Cardinal Health from a “d+” rating to a “c” rating in a report on Thursday, November 5th. Mizuho lifted their price target on Cardinal Health from $56.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, November 13th. Morgan Stanley lifted their price target on Cardinal Health from $61.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, November 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Cardinal Health from $61.00 to $65.00 and gave the company a “buy” rating in a report on Friday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $60.30.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. The company operates through two segments, Pharmaceutical and Medical.

Further Reading: How to invest using market indexes

Dividend History for Cardinal Health (NYSE:CAH)

Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.