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Ahead of Cardinal (CAH) Q2 Earnings: Get Ready With Wall Street Estimates for Key Metrics
Analysts on Wall Street project that Cardinal Health (CAH - Free Report) will announce quarterly earnings of $1.57 per share in its forthcoming report, representing an increase of 18.9% year over year. Revenues are projected to reach $56.82 billion, increasing 10.4% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Cardinal metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts' assessment points toward 'Revenue- Pharmaceutical' reaching $52.95 billion. The estimate suggests a change of +11.1% year over year.
It is projected by analysts that the 'Revenue- Medical' will reach $3.85 billion. The estimate indicates a year-over-year change of +1.5%.
The combined assessment of analysts suggests that 'Operating earnings- Medical' will likely reach $82.78 million. The estimate is in contrast to the year-ago figure of $17 million.
The consensus among analysts is that 'Operating earnings- Pharmaceutical' will reach $502.68 million. The estimate is in contrast to the year-ago figure of $464 million.
View all Key Company Metrics for Cardinal here>>>
Over the past month, shares of Cardinal have returned +4.9% versus the Zacks S&P 500 composite's +2.5% change. Currently, CAH carries a Zacks Rank #2 (Buy), suggesting that it may outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>