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

Cardinal Health, Inc. (NYSE:CAH) announced 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 annualized dividend and a dividend 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 increased its dividend by an average of 1.0% per year over the last three years and has increased its dividend annually for the last 28 consecutive years. Cardinal Health has a payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of CAH opened at $98.32 on Friday. The company has a market capitalization of $23.95 billion, a price-to-earnings ratio of 43.70, a price-to-earnings-growth ratio of 1.13 and a beta of 0.64. Cardinal Health has a fifty-two week low of $85.11 and a fifty-two week high of $116.04. The firm 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 announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. The firm had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.74 earnings per share. Equities research analysts forecast that Cardinal Health will post 7.35 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on CAH shares. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, June 24th. Wells Fargo & Company dropped 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. Evercore ISI raised 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. Robert W. Baird decreased their target price on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, Argus decreased their target price on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.