Wall Street brokerages expect Cardinal Health, Inc. (NYSE:CAH) to post $40.15 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Cardinal Health’s earnings. The highest sales estimate is $41.28 billion and the lowest is $37.86 billion. Cardinal Health reported sales of $36.69 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.4%. The firm is scheduled to announce its next earnings report on Thursday, August 5th.
According to Zacks, analysts expect that Cardinal Health will report full-year sales of $160.42 billion for the current year, with estimates ranging from $157.74 billion to $161.30 billion. For the next financial year, analysts forecast that the company will report sales of $167.55 billion, with estimates ranging from $163.99 billion to $169.15 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Cardinal Health.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, May 6th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.02). Cardinal Health had a net margin of 0.74% and a return on equity of 98.20%. The firm had revenue of $39.28 billion during the quarter, compared to analyst estimates of $40.14 billion. During the same period last year, the firm earned $1.62 EPS. Cardinal Health’s quarterly revenue was up .3% on a year-over-year basis.
Institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its position in shares of Cardinal Health by 0.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 76,679 shares of the company’s stock worth $4,626,000 after acquiring an additional 274 shares in the last quarter. Coldstream Capital Management Inc. acquired a new stake in Cardinal Health in the first quarter valued at approximately $1,252,000. KB Financial Partners LLC acquired a new stake in Cardinal Health in the first quarter valued at approximately $376,000. Pendal Group Limited boosted its position in Cardinal Health by 11.0% in the first quarter. Pendal Group Limited now owns 118,677 shares of the company’s stock valued at $7,209,000 after buying an additional 11,757 shares in the last quarter. Finally, Bridgewater Advisors Inc. acquired a new stake in Cardinal Health in the first quarter valued at approximately $1,342,000. 82.44% of the stock is currently owned by institutional investors.
Shares of NYSE CAH opened at $56.69 on Wednesday. The firm has a market cap of $16.45 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.33 and a beta of 1.06. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.63 and a current ratio of 1.20. Cardinal Health has a 1-year low of $44.65 and a 1-year high of $62.96. The business has a fifty day moving average of $58.26.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Thursday, July 1st will be issued a $0.4908 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.49. This represents a $1.96 annualized dividend and a yield of 3.46%. The ex-dividend date is Wednesday, June 30th. Cardinal Health’s dividend payout ratio is currently 35.60%.
About Cardinal Health
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.
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