Cardinal Health Inc (NYSE:CAH) Expected to Announce Quarterly Sales of $36.90 Billion

Brokerages predict that Cardinal Health Inc (NYSE:CAH) will report sales of $36.90 billion for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Cardinal Health’s earnings. The highest sales estimate is $37.30 billion and the lowest is $36.56 billion. Cardinal Health posted sales of $35.35 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 4.4%. The company is scheduled to report its next earnings results before the market opens on Thursday, August 8th.

On average, analysts expect that Cardinal Health will report full-year sales of $144.72 billion for the current fiscal year, with estimates ranging from $143.31 billion to $145.48 billion. For the next financial year, analysts anticipate that the business will report sales of $150.56 billion, with estimates ranging from $148.66 billion to $152.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Cardinal Health.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 9th. The company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.16. The company had revenue of $35.23 billion for the quarter, compared to analyst estimates of $35.09 billion. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 EPS.

CAH has been the topic of several recent analyst reports. ValuEngine upgraded Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 9th. Zacks Investment Research cut Cardinal Health from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, Guggenheim initiated coverage on Cardinal Health in a research note on Wednesday, April 17th. They issued a “neutral” rating and a $51.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $54.11.

Shares of CAH traded down $0.56 during midday trading on Friday, reaching $46.11. 2,157,892 shares of the company were exchanged, compared to its average volume of 2,601,863. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.54 and a current ratio of 1.07. Cardinal Health has a 1-year low of $42.01 and a 1-year high of $58.31. The company’s 50-day moving average is $46.03. The stock has a market capitalization of $13.74 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 1.44 and a beta of 1.28.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a $0.4811 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.92 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, June 28th. Cardinal Health’s payout ratio is currently 38.40%.

A number of institutional investors have recently made changes to their positions in CAH. Norges Bank bought a new stake in Cardinal Health in the fourth quarter valued at about $133,685,000. Swedbank bought a new stake in Cardinal Health in the second quarter valued at about $106,911,000. American Century Companies Inc. increased its holdings in Cardinal Health by 15.9% in the fourth quarter. American Century Companies Inc. now owns 5,855,367 shares of the company’s stock valued at $261,149,000 after buying an additional 804,399 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in Cardinal Health in the first quarter valued at about $37,929,000. Finally, Dimensional Fund Advisors LP increased its holdings in Cardinal Health by 41.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,447,058 shares of the company’s stock valued at $109,144,000 after buying an additional 720,871 shares during the last quarter. 89.20% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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