Cencora (NYSE:COR) Issues FY 2024 Earnings Guidance

Cencora (NYSE:CORGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 13.250-13.500 for the period, compared to the consensus EPS estimate of 13.450. The company issued revenue guidance of $288.4 billion-$293.6 billion, compared to the consensus revenue estimate of $291.9 billion.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company initiated coverage on Cencora in a report on Thursday, December 14th. They set an equal weight rating and a $213.00 target price on the stock. Leerink Partnrs reiterated an outperform rating on shares of Cencora in a report on Monday, February 26th. StockNews.com raised Cencora from a buy rating to a strong-buy rating in a research report on Thursday, February 1st. Mizuho boosted their price objective on Cencora from $192.00 to $224.00 and gave the stock a neutral rating in a research report on Monday, February 5th. Finally, Barclays began coverage on shares of Cencora in a research note on Wednesday, January 3rd. They issued an overweight rating and a $242.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $214.90.

Check Out Our Latest Analysis on COR

Cencora Price Performance

Shares of COR stock opened at $242.50 on Friday. Cencora has a 1 year low of $150.25 and a 1 year high of $243.83. The company has a current ratio of 0.88, a quick ratio of 0.52 and a debt-to-equity ratio of 3.94. The firm’s 50 day moving average is $231.66 and its 200-day moving average is $206.93. The firm has a market capitalization of $48.37 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.85 and a beta of 0.44.

Cencora (NYSE:CORGet Free Report) last released its earnings results on Wednesday, January 31st. The company reported $3.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.42. Cencora had a return on equity of 323.23% and a net margin of 0.69%. The company had revenue of $72.25 billion during the quarter, compared to the consensus estimate of $68.81 billion. During the same quarter in the previous year, the company posted $2.71 earnings per share. Sell-side analysts forecast that Cencora will post 13.43 EPS for the current fiscal year.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, February 8th. This is an increase from Cencora’s previous quarterly dividend of $0.24. This represents a $2.04 dividend on an annualized basis and a yield of 0.84%. Cencora’s dividend payout ratio is presently 22.22%.

Insider Transactions at Cencora

In other Cencora news, EVP Elizabeth S. Campbell sold 6,977 shares of Cencora stock in a transaction on Monday, March 18th. The shares were sold at an average price of $238.12, for a total transaction of $1,661,363.24. Following the completion of the sale, the executive vice president now owns 8,246 shares of the company’s stock, valued at approximately $1,963,537.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total value of $991,639,906.95. Following the completion of the sale, the insider now directly owns 26,277,561 shares in the company, valued at $6,186,000,635.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth S. Campbell sold 6,977 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $238.12, for a total value of $1,661,363.24. Following the sale, the executive vice president now directly owns 8,246 shares in the company, valued at approximately $1,963,537.52. The disclosure for this sale can be found here. Insiders sold a total of 4,220,472 shares of company stock worth $993,554,798 in the last quarter. 15.80% of the stock is owned by company insiders.

Institutional Trading of Cencora

Large investors have recently bought and sold shares of the business. Harbour Investments Inc. raised its holdings in shares of Cencora by 61.8% during the first quarter. Harbour Investments Inc. now owns 165 shares of the company’s stock worth $26,000 after acquiring an additional 63 shares during the period. Kinneret Advisory LLC increased its holdings in Cencora by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 4,406 shares of the company’s stock worth $682,000 after purchasing an additional 98 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Cencora by 0.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 20,174 shares of the company’s stock valued at $3,343,000 after purchasing an additional 103 shares during the period. Metropolitan Life Insurance Co NY lifted its holdings in shares of Cencora by 1.2% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 9,366 shares of the company’s stock valued at $1,552,000 after purchasing an additional 112 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its position in shares of Cencora by 29.4% during the third quarter. Clearstead Advisors LLC now owns 554 shares of the company’s stock worth $75,000 after buying an additional 126 shares during the period. 93.12% of the stock is owned by institutional investors.

Cencora Company Profile

(Get Free Report)

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.

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Earnings History and Estimates for Cencora (NYSE:COR)

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