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Cardinal Health (CAH) Dips More Than Broader Market: What You Should Know
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In the latest trading session, Cardinal Health (CAH - Free Report) closed at $108.82, marking a -1.24% move from the previous day. This change lagged the S&P 500's 0.19% loss on the day. On the other hand, the Dow registered a loss of 0.7%, and the technology-centric Nasdaq increased by 0.04%.
Shares of the prescription drug distributor witnessed a gain of 0.1% over the previous month, beating the performance of the Medical sector with its loss of 1.58% and underperforming the S&P 500's gain of 1.95%.
Market participants will be closely following the financial results of Cardinal Health in its upcoming release. The company plans to announce its earnings on November 1, 2024. The company is predicted to post an EPS of $1.64, indicating a 5.2% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $51.26 billion, showing a 6.4% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.61 per share and revenue of $215.84 billion, which would represent changes of +1.06% and -4.91%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cardinal Health. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, there's been a 0.02% fall in the Zacks Consensus EPS estimate. As of now, Cardinal Health holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cardinal Health has a Forward P/E ratio of 14.48 right now. This denotes a discount relative to the industry's average Forward P/E of 18.6.
Investors should also note that CAH has a PEG ratio of 1.51 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Medical - Dental Supplies stocks are, on average, holding a PEG ratio of 1.94 based on yesterday's closing prices.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Cardinal Health (CAH) Dips More Than Broader Market: What You Should Know
In the latest trading session, Cardinal Health (CAH - Free Report) closed at $108.82, marking a -1.24% move from the previous day. This change lagged the S&P 500's 0.19% loss on the day. On the other hand, the Dow registered a loss of 0.7%, and the technology-centric Nasdaq increased by 0.04%.
Shares of the prescription drug distributor witnessed a gain of 0.1% over the previous month, beating the performance of the Medical sector with its loss of 1.58% and underperforming the S&P 500's gain of 1.95%.
Market participants will be closely following the financial results of Cardinal Health in its upcoming release. The company plans to announce its earnings on November 1, 2024. The company is predicted to post an EPS of $1.64, indicating a 5.2% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $51.26 billion, showing a 6.4% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.61 per share and revenue of $215.84 billion, which would represent changes of +1.06% and -4.91%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cardinal Health. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, there's been a 0.02% fall in the Zacks Consensus EPS estimate. As of now, Cardinal Health holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cardinal Health has a Forward P/E ratio of 14.48 right now. This denotes a discount relative to the industry's average Forward P/E of 18.6.
Investors should also note that CAH has a PEG ratio of 1.51 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Medical - Dental Supplies stocks are, on average, holding a PEG ratio of 1.94 based on yesterday's closing prices.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.