Cencora (NYSE:COR) Releases Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Cencora (NYSE:COR) posted its earnings results on Wednesday. The company reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23, Zacks reports. Cencora had a return on equity of 266.62% and a net margin of 0.51%.

Cencora Trading Down 2.1 %

Cencora stock traded down $5.43 during trading hours on Thursday, hitting $247.85. The company had a trading volume of 319,519 shares, compared to its average volume of 1,331,742. Cencora has a 1 year low of $214.77 and a 1 year high of $262.26. The firm has a market cap of $47.90 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.59 and a beta of 0.49. The company has a 50-day moving average price of $239.08 and a two-hundred day moving average price of $236.51. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. Cencora’s dividend payout ratio (DPR) is 29.29%.

Insiders Place Their Bets

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the sale, the chairman now directly owns 306,752 shares of the company’s stock, valued at $74,283,064.32. The trade was a 6.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,187 shares of company stock worth $17,790,912 in the last ninety days. 10.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COR. Wells Fargo & Company increased their price objective on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. UBS Group increased their price target on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Robert W. Baird boosted their price objective on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays raised their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Mizuho started coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $277.90.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.