Cardinal Health, Inc. (NYSE:CAH) Announces Dividend Increase – $0.51 Per Share

Cardinal Health, Inc. (NYSE:CAH) declared a quarterly dividend on Tuesday, May 7th, RTT News reports. Stockholders of record on Monday, July 1st will be paid a dividend of 0.5056 per share on Monday, July 15th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50.

Cardinal Health has raised its dividend by an average of 1.0% annually over the last three years and has increased its dividend annually for the last 27 consecutive years. Cardinal Health has a dividend payout ratio of 25.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cardinal Health to earn $7.58 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 26.4%.

Cardinal Health Stock Down 2.3 %

CAH stock opened at $97.45 on Thursday. Cardinal Health has a twelve month low of $80.90 and a twelve month high of $116.04. The company has a market cap of $23.74 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The business’s 50-day simple moving average is $108.38 and its 200 day simple moving average is $105.21.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.74 EPS. On average, equities research analysts anticipate that Cardinal Health will post 7.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CAH shares. Wells Fargo & Company reduced their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, April 29th. UBS Group upped their price objective on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 2nd. Finally, Evercore ISI increased their price objective on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.00.

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.