Cardinal Health (NYSE:CAH) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Cardinal Health (NYSE:CAH) posted its quarterly earnings results on Thursday, May 9th. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.16, MarketWatch Earnings reports. The company had revenue of $35.23 billion for the quarter, compared to the consensus estimate of $35.09 billion. Cardinal Health’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 EPS. Cardinal Health updated its FY 2019 guidance to $5.02-5.17 EPS.

NYSE CAH traded down $0.86 during trading on Friday, hitting $42.07. 3,134,216 shares of the company’s stock traded hands, compared to its average volume of 2,985,221. The company has a market cap of $12.80 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14. Cardinal Health has a 12-month low of $42.02 and a 12-month high of $58.31. The company has a quick ratio of 0.54, a current ratio of 1.07 and a debt-to-equity ratio of 1.22.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.4811 per share. The ex-dividend date of this dividend is Friday, June 28th. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.92 annualized dividend and a yield of 4.57%. Cardinal Health’s dividend payout ratio is 38.20%.

Several research firms recently weighed in on CAH. ValuEngine upgraded shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 9th. Zacks Investment Research lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Wolfe Research began coverage on shares of Cardinal Health in a research report on Tuesday, April 2nd. They set an “underperform” rating for the company. Finally, Guggenheim began coverage on shares of Cardinal Health in a research report on Wednesday, April 17th. They set a “neutral” rating and a $51.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $56.20.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAH. Gemmer Asset Management LLC lifted its holdings in shares of Cardinal Health by 172.4% in the fourth quarter. Gemmer Asset Management LLC now owns 553 shares of the company’s stock worth $25,000 after buying an additional 350 shares in the last quarter. WP Advisors LLC purchased a new stake in shares of Cardinal Health in the first quarter worth about $26,000. Bremer Bank National Association purchased a new stake in shares of Cardinal Health in the first quarter worth about $27,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Cardinal Health in the fourth quarter worth about $32,000. Finally, CNB Bank purchased a new stake in shares of Cardinal Health in the fourth quarter worth about $36,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

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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.

Further Reading: Return on Investment (ROI) Defined, Explained

Earnings History for Cardinal Health (NYSE:CAH)

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