Cardinal Health, Inc. (NYSE:CAH) Announces Quarterly Dividend of $0.51

Cardinal Health, Inc. (NYSE:CAH) announced a quarterly dividend on Monday, February 3rd,RTT News reports. Shareholders of record on Tuesday, April 1st will be given a dividend of 0.5056 per share on Tuesday, April 15th. This represents a $2.02 dividend on an annualized basis and a yield of 1.61%.

Cardinal Health has increased its dividend by an average of 1.0% per year over the last three years and has increased its dividend every year for the last 30 years. Cardinal Health has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cardinal Health to earn $8.80 per share next year, which means the company should continue to be able to cover its $2.02 annual dividend with an expected future payout ratio of 23.0%.

Cardinal Health Stock Performance

Shares of Cardinal Health stock traded up $1.90 during trading hours on Monday, hitting $125.56. The company’s stock had a trading volume of 3,039,759 shares, compared to its average volume of 2,417,874. The firm has a fifty day moving average of $122.03 and a 200-day moving average of $114.32. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $132.84. The stock has a market cap of $30.33 billion, a price-to-earnings ratio of 23.43, a P/E/G ratio of 1.46 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, sell-side analysts expect that Cardinal Health will post 7.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAH has been the topic of several research analyst reports. Citigroup boosted their price objective on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Barclays upped their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Mizuho initiated coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Morgan Stanley boosted their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price target on Cardinal Health from $132.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.64.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.