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Cardinal Health (CAH) Rises But Trails Market: What Investors Should Know
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The latest trading session saw Cardinal Health (CAH - Free Report) ending at $100.83, denoting a +0.57% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 1.08% for the day. Meanwhile, the Dow gained 0.75%, and the Nasdaq, a tech-heavy index, added 2.64%.
Coming into today, shares of the prescription drug distributor had gained 3.85% in the past month. In that same time, the Medical sector gained 0.71%, while the S&P 500 lost 0.44%.
Market participants will be closely following the financial results of Cardinal Health in its upcoming release. The company plans to announce its earnings on August 14, 2024. The company is expected to report EPS of $1.72, up 10.97% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $58.72 billion, up 9.86% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Cardinal Health. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Cardinal Health is currently a Zacks Rank #3 (Hold).
In terms of valuation, Cardinal Health is presently being traded at a Forward P/E ratio of 13.28. This indicates a discount in contrast to its industry's Forward P/E of 18.9.
It's also important to note that CAH currently trades at a PEG ratio of 1.11. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Medical - Dental Supplies industry stood at 2.12 at the close of the market yesterday.
The Medical - Dental Supplies industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 199, placing it within the bottom 22% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Cardinal Health (CAH) Rises But Trails Market: What Investors Should Know
The latest trading session saw Cardinal Health (CAH - Free Report) ending at $100.83, denoting a +0.57% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 1.08% for the day. Meanwhile, the Dow gained 0.75%, and the Nasdaq, a tech-heavy index, added 2.64%.
Coming into today, shares of the prescription drug distributor had gained 3.85% in the past month. In that same time, the Medical sector gained 0.71%, while the S&P 500 lost 0.44%.
Market participants will be closely following the financial results of Cardinal Health in its upcoming release. The company plans to announce its earnings on August 14, 2024. The company is expected to report EPS of $1.72, up 10.97% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $58.72 billion, up 9.86% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Cardinal Health. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Cardinal Health is currently a Zacks Rank #3 (Hold).
In terms of valuation, Cardinal Health is presently being traded at a Forward P/E ratio of 13.28. This indicates a discount in contrast to its industry's Forward P/E of 18.9.
It's also important to note that CAH currently trades at a PEG ratio of 1.11. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Medical - Dental Supplies industry stood at 2.12 at the close of the market yesterday.
The Medical - Dental Supplies industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 199, placing it within the bottom 22% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.