Cencora (NYSE:COR) Posts Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Cencora (NYSE:COR) posted its earnings results on Wednesday. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.16, Briefing.com reports. The firm had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.92 earnings per share. Cencora updated its FY 2024 guidance to 13.550-13.650 EPS and its FY24 guidance to $13.55-$13.65 EPS.

Cencora Stock Up 1.3 %

Shares of Cencora stock traded up $3.11 during trading on Friday, reaching $247.57. The company’s stock had a trading volume of 3,292,432 shares, compared to its average volume of 1,217,035. The company has a 50-day simple moving average of $228.85 and a two-hundred day simple moving average of $231.18. Cencora has a 1-year low of $171.65 and a 1-year high of $247.66. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The company has a market cap of $49.38 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 1.68 and a beta of 0.45.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.82%. Cencora’s payout ratio is 22.32%.

Insiders Place Their Bets

In related news, Director Dermot Mark Durcan acquired 500 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average price of $218.58 per share, with a total value of $109,290.00. Following the acquisition, the director now directly owns 21,876 shares in the company, valued at approximately $4,781,656.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cencora news, EVP Gina Clark sold 1,874 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $223.86, for a total transaction of $419,513.64. Following the transaction, the executive vice president now directly owns 13,284 shares in the company, valued at $2,973,756.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dermot Mark Durcan acquired 500 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were bought at an average cost of $218.58 per share, for a total transaction of $109,290.00. Following the transaction, the director now directly owns 21,876 shares of the company’s stock, valued at approximately $4,781,656.08. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 1,899,112 shares of company stock valued at $408,654,376. 15.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

COR has been the topic of a number of research analyst reports. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday. Citigroup upped their price target on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Wells Fargo & Company increased their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday. SVB Leerink reissued an “outperform” rating and set a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. Finally, Robert W. Baird raised their price objective on Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.00.

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.