Cardinal Health, Inc. (CAH) Expected to Post Quarterly Sales of $34.71 Billion

Wall Street analysts expect that Cardinal Health, Inc. (NYSE:CAH) will announce sales of $34.71 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Cardinal Health’s earnings. The lowest sales estimate is $34.14 billion and the highest is $35.12 billion. Cardinal Health reported sales of $33.15 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The company is expected to announce its next earnings report on Tuesday, February 6th.

According to Zacks, analysts expect that Cardinal Health will report full year sales of $34.71 billion for the current financial year, with estimates ranging from $134.40 billion to $136.94 billion. For the next financial year, analysts expect that the business will post sales of $140.66 billion per share, with estimates ranging from $136.83 billion to $144.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Cardinal Health.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $32.64 billion for the quarter, compared to analyst estimates of $33.48 billion. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. Cardinal Health’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS.

A number of research firms have issued reports on CAH. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardinal Health in a research report on Sunday, September 10th. ValuEngine lowered Cardinal Health from a “buy” rating to a “hold” rating in a research report on Sunday. Robert W. Baird reaffirmed a “hold” rating and issued a $73.00 price target on shares of Cardinal Health in a research report on Sunday, September 17th. Cowen raised Cardinal Health to a “buy” rating and set a $74.00 price target on the stock in a research report on Tuesday, October 10th. Finally, Mizuho set a $70.00 price target on Cardinal Health and gave the company a “hold” rating in a research report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $73.91.

Shares of Cardinal Health (NYSE:CAH) opened at $62.86 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.52. The stock has a market capitalization of $19,892.38, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85. Cardinal Health has a 12-month low of $54.66 and a 12-month high of $84.88.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be issued a $0.4624 dividend. The ex-dividend date is Friday, December 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.94%. Cardinal Health’s payout ratio is currently 53.78%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Cardinal Health by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 23,642,277 shares of the company’s stock worth $1,842,205,000 after buying an additional 440,967 shares during the last quarter. BlackRock Inc. grew its stake in Cardinal Health by 6.5% during the 2nd quarter. BlackRock Inc. now owns 22,843,418 shares of the company’s stock worth $1,779,958,000 after buying an additional 1,398,496 shares during the last quarter. Macquarie Group Ltd. grew its stake in Cardinal Health by 4.6% during the 3rd quarter. Macquarie Group Ltd. now owns 10,105,374 shares of the company’s stock worth $676,253,000 after buying an additional 445,399 shares during the last quarter. Franklin Resources Inc. grew its stake in Cardinal Health by 72.1% during the 2nd quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock worth $489,613,000 after buying an additional 2,632,836 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Cardinal Health by 38.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,930,457 shares of the company’s stock worth $329,964,000 after buying an additional 1,373,334 shares during the last quarter. Institutional investors and hedge funds own 88.35% of the company’s stock.

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About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

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