Cardinal Health, Inc. (CAH) is scheduled to announce its fourth-quarter earnings results before the market opens on August 14, 2024. Analysts are expecting the Dublin, Ohio-based healthcare distributor to report strong results, with earnings per share projected at $1.73, up from $1.55 in the same period last year. Revenue is anticipated to reach $58.64 billion, a significant increase from $53.45 billion in the previous year.
The company has been demonstrating positive momentum. In May, Cardinal Health increased its quarterly dividend from $0.5006 to $0.5056 per share. The company’s stock price also reflects this positive sentiment, gaining 1.9% to close at $102.58 on Tuesday.
While the overall outlook appears positive, analysts offer diverse opinions on the stock’s future performance. Let’s delve into the recent ratings from some of Benzinga’s most accurate analysts:
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Baird:
Eric Coldwell maintained an “Outperform” rating and raised the price target from $129 to $130 on July 9. This analyst boasts a 66% accuracy rate.*
Argus Research:
David Toung maintained a “Buy” rating but lowered the price target from $120 to $115 on May 15. This analyst has a 69% accuracy rate.*
Wells Fargo:
Stephen Baxter maintained an “Underweight” rating and reduced the price target from $96 to $94 on April 29. This analyst’s accuracy rate stands at 63%.*
UBS:
Kevin Caliendo maintained a “Buy” rating and increased the price target from $122 to $125 on February 5. This analyst holds a 69% accuracy rate.*
Mizuho:
Ann Hynes maintained a “Neutral” rating but raised the price target from $95 to $104 on November 6, 2023. This analyst boasts a 76% accuracy rate.The divergence in analyst opinions highlights the potential for both upside and downside risks for Cardinal Health. Investors considering CAH stock should carefully weigh these varying perspectives and conduct their own thorough research before making any investment decisions.
