Cardinal Health, Inc. (NYSE:CAH) Announces Quarterly Dividend of $0.51

Cardinal Health, Inc. (NYSE:CAH) declared a quarterly dividend on Monday, February 3rd,RTT News reports. Shareholders of record on Tuesday, April 1st will be paid a dividend of 0.5056 per share on Tuesday, April 15th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.61%.

Cardinal Health has raised its dividend by an average of 1.0% annually over the last three years and has raised its dividend annually for the last 30 consecutive years. Cardinal Health has a dividend payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cardinal Health to earn $8.80 per share next year, which means the company should continue to be able to cover its $2.02 annual dividend with an expected future payout ratio of 23.0%.

Cardinal Health Trading Up 1.5 %

Shares of Cardinal Health stock opened at $125.56 on Tuesday. Cardinal Health has a 1-year low of $93.17 and a 1-year high of $132.84. The firm’s 50-day moving average price is $122.11 and its two-hundred day moving average price is $114.53. The stock has a market capitalization of $30.33 billion, a price-to-earnings ratio of 23.43, a P/E/G ratio of 1.46 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, equities research analysts predict that Cardinal Health will post 7.92 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley increased their price objective on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group raised their price objective on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Finally, Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.64.

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.