Cardinal Health (NYSE:CAH) Issues Quarterly Earnings Results, Beats Estimates By $0.19 EPS

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

Cardinal Health Trading Down 4.1 %

Shares of Cardinal Health stock opened at $123.00 on Friday. The stock’s fifty day moving average price is $122.00 and its 200-day moving average price is $113.85. The firm has a market cap of $29.77 billion, a P/E ratio of 24.05, a P/E/G ratio of 1.55 and a beta of 0.63. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $132.84.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s dividend payout ratio is 39.30%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CAH shares. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a research report on Tuesday, January 7th. Mizuho began coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Cardinal Health from $127.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday. Morgan Stanley upped their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a report on Friday. Finally, UBS Group raised their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $135.64.

About Cardinal Health

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.