The upcoming report from Cardinal Health (CAH) is expected to reveal quarterly earnings of $2.15 per share, indicating an increase of 3.4% compared to the year-ago period. Analysts forecast revenues of $55.03 billion, representing an increase of 0.2% year over year.
The consensus EPS estimate for the quarter has been revised 0.1% lower 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.
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 rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
That said, let's delve into the average estimates of some Cardinal metrics that Wall Street analysts commonly model and monitor.
The consensus among analysts is that 'Revenue- Pharmaceutical and Specialty Solutions' will reach $50.33 billion. The estimate points to a change of -0.6% from the year-ago quarter.
It is projected by analysts that the 'Revenue- Medical Products and Distribution' will reach $3.21 billion. The estimate indicates a year-over-year change of +3.2%.
Analysts forecast 'Segment profit- Pharmaceutical and Specialty Solutions' to reach $635.77 million. Compared to the present estimate, the company reported $580 million in the same quarter last year.
Analysts predict that the 'Segment profit- Global Medical Products and Distribution' will reach $44.16 million. The estimate is in contrast to the year-ago figure of $20 million.
View all Key Company Metrics for Cardinal here>>>
Over the past month, Cardinal shares have recorded returns of +0.8% versus the Zacks S&P 500 composite's -4.3% change. Based on its Zacks Rank #3 (Hold), CAH will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cardinal Health, Inc. (CAH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
