Cencora (NYSE:COR) Updates FY24 Earnings Guidance

Cencora (NYSE:COR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $13.35-13.55 for the period, compared to the consensus earnings per share estimate of $13.45. Cencora also updated its FY 2024 guidance to 13.350-13.550 EPS.

Cencora Trading Down 0.4 %

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

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. The business had revenue of $68.41 billion during the quarter, compared to the consensus estimate of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.50 earnings per share. Equities research analysts anticipate that Cencora will post 13.44 EPS for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors 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 yield of 0.93%. Cencora’s payout ratio is 22.32%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup boosted their target price on Cencora from $265.00 to $280.00 and gave the company a buy rating in a research note on Tuesday, April 30th. SVB Leerink started coverage on shares of Cencora in a research note on Monday, February 26th. They issued an outperform rating and a $261.00 target price for the company. StockNews.com cut shares of Cencora from a strong-buy rating to a buy rating in a research note on Thursday, May 2nd. Mizuho lifted their price objective on shares of Cencora from $192.00 to $224.00 and gave the company a neutral rating in a research note on Monday, February 5th. Finally, Robert W. Baird increased their target price on Cencora from $275.00 to $277.00 and gave the stock an outperform rating in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $233.90.

Insider Activity at Cencora

In other Cencora news, EVP Elizabeth S. Campbell sold 6,977 shares of Cencora stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $238.12, for a total transaction of $1,661,363.24. Following the completion of the sale, the executive vice president now directly owns 8,246 shares in the company, valued at $1,963,537.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Elizabeth S. Campbell sold 6,977 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $238.12, for a total transaction of $1,661,363.24. Following the transaction, the executive vice president now directly owns 8,246 shares of the company’s stock, valued at approximately $1,963,537.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the sale, the insider now directly owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The disclosure for this sale can be found here. Insiders have sold 1,934,685 shares of company stock valued at $417,739,921 over the last three months. 15.80% of the stock is owned by corporate insiders.

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.