Cencora (COR) Set to Announce Quarterly Earnings on Wednesday

Cencora (NYSE:COR) will be issuing its quarterly earnings data before the market opens on Wednesday, July 31st. Analysts expect the company to announce earnings of $3.19 per share for the quarter. Cencora has set its FY24 guidance at $13.30-13.50 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Cencora (NYSE:COR) last posted its earnings results 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 analysts’ expectations of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. Cencora’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.50 EPS. On average, analysts expect Cencora to post $13 EPS for the current fiscal year and $15 EPS for the next fiscal year.

Cencora Stock Performance

Shares of COR stock opened at $227.18 on Tuesday. The company has a market capitalization of $45.31 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 1.58 and a beta of 0.45. Cencora has a 52 week low of $171.65 and a 52 week high of $246.75. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89. The company’s 50 day moving average price is $227.08 and its two-hundred day moving average price is $230.76.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a dividend of $0.51 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.90%. Cencora’s payout ratio is 22.32%.

Insider Buying and Selling

In other news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the transaction, the insider now owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the sale, the chief executive officer now owns 285,088 shares in the company, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,899,112 shares of company stock worth $408,654,376. Corporate insiders own 15.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. SVB Leerink reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Robert W. Baird lifted their target price on Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Finally, Citigroup upped their price target on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.78.

About Cencora

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.