Cardinal Health, Inc. (CAH) to Issue Quarterly Dividend of $0.51 on April 15th

Cardinal Health, Inc. (NYSE:CAH) announced a quarterly dividend on Monday, February 3rd, RTT News reports. Investors of record on Tuesday, April 1st will be paid a dividend of 0.5056 per share on Tuesday, April 15th. This represents a $2.02 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, April 1st.

Cardinal Health has increased its dividend payment by an average of 1.0% per year over the last three years and has increased its dividend annually for the last 28 consecutive years. Cardinal Health has a dividend payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cardinal Health to earn $8.95 per share next year, which means the company should continue to be able to cover its $2.02 annual dividend with an expected future payout ratio of 22.6%.

Cardinal Health Stock Down 0.2 %

Shares of NYSE:CAH opened at $136.43 on Friday. The stock’s 50 day moving average is $128.36 and its 200-day moving average is $120.80. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $137.18. The firm has a market capitalization of $32.96 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Equities research analysts anticipate that Cardinal Health will post 7.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Argus set a $148.00 price target on Cardinal Health in a report on Tuesday, February 4th. Mizuho initiated coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. Morgan Stanley upped their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Citigroup raised their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $139.36.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.