Cencora (COR) to Release Quarterly Earnings on Wednesday

Cencora (NYSE:COR) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $3.65 per share for the quarter. Cencora has set its FY 2024 guidance at 13.250-13.500 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Cencora (NYSE:COR) last released its earnings results on Wednesday, January 31st. The company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.42. Cencora had a net margin of 0.69% and a return on equity of 323.23%. 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 firm earned $2.71 EPS. On average, analysts expect Cencora to post $13 EPS for the current fiscal year and $15 EPS for the next fiscal year.

Cencora Price Performance

Shares of NYSE:COR opened at $237.73 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.88 and a debt-to-equity ratio of 3.94. Cencora has a fifty-two week low of $163.37 and a fifty-two week high of $246.75. The firm has a 50-day simple moving average of $238.11 and a 200 day simple moving average of $216.73. The company has a market cap of $47.42 billion, a PE ratio of 25.90, a P/E/G ratio of 1.83 and a beta of 0.45.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Friday, February 9th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Thursday, February 8th. This is an increase from Cencora’s previous quarterly dividend of $0.24. Cencora’s dividend payout ratio is currently 22.22%.

Insider Transactions at Cencora

In other news, EVP Elizabeth S. Campbell sold 6,977 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were 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 directly owns 8,246 shares of the company’s stock, valued at approximately $1,963,537.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the completion of the sale, the insider now directly owns 26,277,561 shares of the company’s stock, valued at $6,186,000,635.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth S. Campbell sold 6,977 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 8,246 shares of the company’s stock, valued at $1,963,537.52. The disclosure for this sale can be found here. In the last three months, insiders sold 4,288,790 shares of company stock valued at $1,009,641,379. Company insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on COR. Barclays began coverage on shares of Cencora in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $242.00 price objective for the company. SVB Leerink began coverage on shares of Cencora in a research report on Monday, February 26th. They set an “outperform” rating and a $261.00 price objective for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cencora in a research report on Monday, February 26th. Mizuho upped their target price on shares of Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Finally, StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average price target of $218.22.

Cencora Company Profile

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.