Wall Street analysts forecast that Cardinal Health (CAH) will report quarterly earnings of $2.03 per share in its upcoming release, pointing to a year-over-year increase of 10.3%. It is anticipated that revenues will amount to $60.67 billion, exhibiting an increase of 1.3% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Cardinal metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus estimate for 'Revenue- Pharmaceutical and Specialty Solutions' stands at $55.86 billion. The estimate points to a change of +0.5% from the year-ago quarter.
Analysts forecast 'Revenue- Other' to reach $1.57 billion. The estimate points to a change of +33.8% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenue- Medical Products and Distribution' should arrive at $3.21 billion. The estimate points to a change of +3.2% from the year-ago quarter.
The combined assessment of analysts suggests that 'Segment profit- Pharmaceutical and Specialty Solutions' will likely reach $543.86 million. Compared to the present estimate, the company reported $482.00 million in the same quarter last year.
Analysts expect 'Segment profit- Other' to come in at $147.91 million. Compared to the present estimate, the company reported $111.00 million in the same quarter last year.
View all Key Company Metrics for Cardinal here>>>
Cardinal shares have witnessed a change of -4.7% in the past month, in contrast to the Zacks S&P 500 composite's +1.2% move. With a Zacks Rank #2 (Buy), CAH is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Cardinal Health, Inc. (CAH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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