Cencora (NYSE:COR) Releases FY 2024 Earnings Guidance

Cencora (NYSE:CORGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 13.350-13.550 for the period, compared to the consensus estimate of 13.440. The company issued revenue guidance of -. Cencora also updated its FY24 guidance to $13.35-13.55 EPS.

Cencora Trading Up 1.2 %

Shares of NYSE COR traded up $2.69 during midday trading on Thursday, hitting $219.44. The stock had a trading volume of 260,841 shares, compared to its average volume of 1,287,704. The company has a fifty day moving average price of $234.60 and a 200 day moving average price of $222.17. The company has a market capitalization of $43.77 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.51 and a beta of 0.47. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. Cencora has a 1-year low of $163.37 and a 1-year high of $246.75.

Cencora (NYSE:CORGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.65 by $0.15. The firm had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. Cencora’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.50 EPS. On average, analysts predict that Cencora will post 13.45 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.51 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.93%. Cencora’s dividend payout ratio (DPR) is 22.32%.

Analyst Upgrades and Downgrades

COR has been the subject of a number of recent research reports. SVB Leerink initiated coverage on Cencora in a research note on Monday, February 26th. They set an outperform rating and a $261.00 price objective for the company. StockNews.com downgraded Cencora from a strong-buy rating to a buy rating in a research note on Thursday, May 2nd. Mizuho upped their price objective on Cencora from $192.00 to $224.00 and gave the stock a neutral rating in a research note on Monday, February 5th. Robert W. Baird upped their price objective on Cencora from $275.00 to $277.00 and gave the stock an outperform rating in a research note on Thursday, May 2nd. Finally, Leerink Partnrs reiterated an outperform rating on shares of Cencora in a research report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $233.90.

Read Our Latest Stock Report on COR

Insider Activity

In other news, EVP Elizabeth S. Campbell sold 6,977 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 8,246 shares in the company, valued at $1,963,537.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Elizabeth S. Campbell sold 6,977 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $238.12, for a total transaction of $1,661,363.24. Following the sale, the executive vice president now directly owns 8,246 shares of the company’s stock, valued at $1,963,537.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven H. Collis sold 10,754 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at $67,702,698.24. The disclosure for this sale can be found here. Insiders sold a total of 75,295 shares of company stock worth $17,747,944 over the last 90 days. 15.80% of the stock is currently owned by company insiders.

About Cencora

(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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