The upcoming report from Cardinal Health (CAH) is expected to reveal quarterly earnings of $2.37 per share, indicating an increase of 22.8% compared to the year-ago period. Analysts forecast revenues of $64.49 billion, representing an increase of 16.7% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.9% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
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 it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
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.
The consensus among analysts is that 'Revenue- Pharmaceutical and Specialty Solutions' will reach $59.01 billion. The estimate indicates a year-over-year change of +16.1%.
The combined assessment of analysts suggests that 'Revenue- Other' will likely reach $1.64 billion. The estimate indicates a change of +28.2% from the prior-year quarter.
Analysts predict that the 'Revenue- Medical Products and Distribution' will reach $3.28 billion. The estimate points to a change of +4% from the year-ago quarter.
According to the collective judgment of analysts, 'Segment profit- Pharmaceutical and Specialty Solutions' should come in at $639.50 million. Compared to the current estimate, the company reported $531.00 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Segment profit- Other' should arrive at $157.26 million. Compared to the present estimate, the company reported $118.00 million in the same quarter last year.
Analysts expect 'Segment profit- Global Medical Products and Distribution' to come in at $15.85 million. Compared to the present estimate, the company reported $18.00 million in the same quarter last year.
View all Key Company Metrics for Cardinal here>>>
Shares of Cardinal have experienced a change of +4.5% in the past month compared to the +0.7% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), CAH is expected to outperform 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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