Cardinal Health, Inc. (CAH) to Issue Quarterly Dividend of $0.51 on July 15th

Cardinal Health, Inc. (NYSE:CAH) declared a quarterly dividend on Tuesday, May 7th, RTT News reports. Investors of record on Monday, July 1st will be given a dividend of 0.5056 per share on Monday, July 15th. This represents a $2.02 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Monday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50.

Cardinal Health has raised its dividend payment by an average of 1.0% per year over the last three years and has raised its dividend every year for the last 28 years. Cardinal Health has a payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cardinal Health to earn $7.55 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 26.8%.

Cardinal Health Price Performance

NYSE:CAH opened at $98.32 on Friday. Cardinal Health has a 12-month low of $85.11 and a 12-month high of $116.04. The firm has a market capitalization of $23.95 billion, a P/E ratio of 43.70, a P/E/G ratio of 1.13 and a beta of 0.64. The business has a 50 day simple moving average of $99.88 and a 200 day simple moving average of $104.53.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business had revenue of $54.90 billion for the quarter, compared to analysts’ expectations of $56.05 billion. During the same period in the previous year, the business earned $1.74 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that Cardinal Health will post 7.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAH. Evercore ISI lifted their target price on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 24th. Argus reduced their target price on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Robert W. Baird reduced their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, 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 research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.67.

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.