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Cardinal Health (CAH) Rises As Market Takes a Dip: Key Facts
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Cardinal Health (CAH - Free Report) closed the latest trading day at $96.71, indicating a +0.91% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 2.32%. Elsewhere, the Dow saw a downswing of 1.25%, while the tech-heavy Nasdaq depreciated by 3.64%.
The prescription drug distributor's shares have seen a decrease of 7.07% over the last month, not keeping up with the Medical sector's gain of 0.32% and the S&P 500's gain of 1.79%.
Analysts and investors alike will be keeping a close eye on the performance of Cardinal Health in its upcoming earnings disclosure. The company's earnings report is set to go public on August 14, 2024. It is anticipated that the company will report an EPS of $1.72, marking a 10.97% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $58.72 billion, up 9.86% from the year-ago period.
Any recent changes to analyst estimates for Cardinal Health should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% downward. Cardinal Health is currently a Zacks Rank #3 (Hold).
Investors should also note Cardinal Health's current valuation metrics, including its Forward P/E ratio of 12.7. This indicates a discount in contrast to its industry's Forward P/E of 18.24.
We can also see that CAH currently has a PEG ratio of 1.06. 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. As the market closed yesterday, the Medical - Dental Supplies industry was having an average PEG ratio of 2.05.
The Medical - Dental Supplies industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 163, placing it within the bottom 36% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Cardinal Health (CAH) Rises As Market Takes a Dip: Key Facts
Cardinal Health (CAH - Free Report) closed the latest trading day at $96.71, indicating a +0.91% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 2.32%. Elsewhere, the Dow saw a downswing of 1.25%, while the tech-heavy Nasdaq depreciated by 3.64%.
The prescription drug distributor's shares have seen a decrease of 7.07% over the last month, not keeping up with the Medical sector's gain of 0.32% and the S&P 500's gain of 1.79%.
Analysts and investors alike will be keeping a close eye on the performance of Cardinal Health in its upcoming earnings disclosure. The company's earnings report is set to go public on August 14, 2024. It is anticipated that the company will report an EPS of $1.72, marking a 10.97% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $58.72 billion, up 9.86% from the year-ago period.
Any recent changes to analyst estimates for Cardinal Health should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% downward. Cardinal Health is currently a Zacks Rank #3 (Hold).
Investors should also note Cardinal Health's current valuation metrics, including its Forward P/E ratio of 12.7. This indicates a discount in contrast to its industry's Forward P/E of 18.24.
We can also see that CAH currently has a PEG ratio of 1.06. 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. As the market closed yesterday, the Medical - Dental Supplies industry was having an average PEG ratio of 2.05.
The Medical - Dental Supplies industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 163, placing it within the bottom 36% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.