We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cardinal Health (CAH) Increases Despite Market Slip: Here's What You Need to Know
Read MoreHide Full Article
Cardinal Health (CAH - Free Report) closed the most recent trading day at $107.03, moving +1.84% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.2%. Meanwhile, the Dow experienced a drop of 0.65%, and the technology-dominated Nasdaq saw a decrease of 1.79%.
The prescription drug distributor's stock has dropped by 4.98% in the past month, exceeding the Medical sector's loss of 6.57% and lagging the S&P 500's loss of 0.85%.
Market participants will be closely following the financial results of Cardinal Health in its upcoming release. The company plans to announce its earnings on May 2, 2024. The company's earnings per share (EPS) are projected to be $1.96, reflecting a 12.64% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $55.82 billion, up 10.56% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $7.28 per share and a revenue of $226.9 billion, demonstrating changes of +25.73% and +10.68%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Cardinal Health. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Cardinal Health presently features a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Cardinal Health has a Forward P/E ratio of 14.43 right now. This signifies a discount in comparison to the average Forward P/E of 17.69 for its industry.
It's also important to note that CAH currently trades at a PEG ratio of 1.01. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Medical - Dental Supplies industry had an average PEG ratio of 1.76.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Cardinal Health (CAH) Increases Despite Market Slip: Here's What You Need to Know
Cardinal Health (CAH - Free Report) closed the most recent trading day at $107.03, moving +1.84% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.2%. Meanwhile, the Dow experienced a drop of 0.65%, and the technology-dominated Nasdaq saw a decrease of 1.79%.
The prescription drug distributor's stock has dropped by 4.98% in the past month, exceeding the Medical sector's loss of 6.57% and lagging the S&P 500's loss of 0.85%.
Market participants will be closely following the financial results of Cardinal Health in its upcoming release. The company plans to announce its earnings on May 2, 2024. The company's earnings per share (EPS) are projected to be $1.96, reflecting a 12.64% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $55.82 billion, up 10.56% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $7.28 per share and a revenue of $226.9 billion, demonstrating changes of +25.73% and +10.68%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Cardinal Health. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Cardinal Health presently features a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Cardinal Health has a Forward P/E ratio of 14.43 right now. This signifies a discount in comparison to the average Forward P/E of 17.69 for its industry.
It's also important to note that CAH currently trades at a PEG ratio of 1.01. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Medical - Dental Supplies industry had an average PEG ratio of 1.76.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.