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Why the Market Dipped But Cardinal Health (CAH) Gained Today
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Cardinal Health (CAH - Free Report) closed the most recent trading day at $95.84, moving +0.44% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.06%.
The prescription drug distributor's stock has dropped by 9.04% in the past month, falling short of the Medical sector's gain of 0.37% and the S&P 500's gain of 1.96%.
The upcoming earnings release of Cardinal Health will be of great interest to investors. On that day, Cardinal Health is projected to report earnings of $1.72 per share, which would represent year-over-year growth of 10.97%. Our most recent consensus estimate is calling for quarterly revenue of $58.72 billion, up 9.86% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Cardinal Health. Such recent modifications usually signify the changing landscape 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Cardinal Health presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Cardinal Health currently has a Forward P/E ratio of 12.64. This valuation marks a discount compared to its industry's average Forward P/E of 18.09.
Meanwhile, CAH's PEG ratio is currently 1.05. 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. CAH's industry had an average PEG ratio of 2.02 as of yesterday's close.
The Medical - Dental Supplies industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 160, positioning it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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Why the Market Dipped But Cardinal Health (CAH) Gained Today
Cardinal Health (CAH - Free Report) closed the most recent trading day at $95.84, moving +0.44% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.06%.
The prescription drug distributor's stock has dropped by 9.04% in the past month, falling short of the Medical sector's gain of 0.37% and the S&P 500's gain of 1.96%.
The upcoming earnings release of Cardinal Health will be of great interest to investors. On that day, Cardinal Health is projected to report earnings of $1.72 per share, which would represent year-over-year growth of 10.97%. Our most recent consensus estimate is calling for quarterly revenue of $58.72 billion, up 9.86% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Cardinal Health. Such recent modifications usually signify the changing landscape 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Cardinal Health presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Cardinal Health currently has a Forward P/E ratio of 12.64. This valuation marks a discount compared to its industry's average Forward P/E of 18.09.
Meanwhile, CAH's PEG ratio is currently 1.05. 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. CAH's industry had an average PEG ratio of 2.02 as of yesterday's close.
The Medical - Dental Supplies industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 160, positioning it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.