Cardinal Health (NYSE:CAH) Announces Quarterly Earnings Results

Cardinal Health (NYSE:CAH) posted its quarterly earnings data on Thursday. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19, Zacks reports. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%.

Cardinal Health Price Performance

Shares of Cardinal Health stock traded down $0.10 during trading on Thursday, hitting $127.66. The company’s stock had a trading volume of 1,028,776 shares, compared to its average volume of 2,036,015. The stock has a market cap of $30.90 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. The stock has a 50-day moving average price of $121.90 and a two-hundred day moving average price of $113.75. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $132.84.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group boosted their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and upped their target price for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Citigroup boosted their price target on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Tuesday, January 7th. Finally, Barclays boosted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.21.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.