Analysts on Wall Street project that Cardinal Health (CAH) will announce quarterly earnings of $2.21 per share in its forthcoming report, representing an increase of 17.6% year over year. Revenues are projected to reach $59.05 billion, increasing 13% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 0.2% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some Cardinal metrics that are commonly tracked and projected by analysts on Wall Street.
According to the collective judgment of analysts, 'Revenue- Pharmaceutical and Specialty Solutions' should come in at $54.30 billion. The estimate indicates a year-over-year change of +13.2%.
The consensus estimate for 'Revenue- Other' stands at $1.56 billion. The estimate suggests a change of +31.2% year over year.
Analysts predict that the 'Revenue- Medical Products and Distribution' will reach $3.21 billion. The estimate indicates a year-over-year change of +2.9%.
Analysts expect 'Segment profit- Pharmaceutical and Specialty Solutions' to come in at $596.71 million. Compared to the current estimate, the company reported $530.00 million in the same quarter of the previous year.
It is projected by analysts that the 'Segment profit- Other' will reach $139.45 million. Compared to the current estimate, the company reported $104.00 million in the same quarter of the previous year.
Analysts' assessment points toward 'Segment profit- Global Medical Products and Distribution' reaching $23.82 million. The estimate compares to the year-ago value of $8.00 million.
View all Key Company Metrics for Cardinal here>>>
Over the past month, shares of Cardinal have returned +6% versus the Zacks S&P 500 composite's +3.6% change. Currently, CAH carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. 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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