Cencora (NYSE:COR) Updates FY24 Earnings Guidance

Cencora (NYSE:COR) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $13.55-$13.65 for the period, compared to the consensus earnings per share estimate of $13.47. The company issued revenue guidance of $293.6 billion, compared to the consensus revenue estimate of $289.77 billion. Cencora also updated its FY 2024 guidance to 13.550-13.650 EPS.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com raised Cencora from a buy rating to a strong-buy rating in a report on Friday. Wells Fargo & Company upped 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 reaffirmed an outperform rating and issued a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Citigroup upped their target price on Cencora from $265.00 to $280.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. Finally, Robert W. Baird upped their target price on Cencora from $285.00 to $287.00 and gave the stock an outperform rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cencora currently has a consensus rating of Moderate Buy and a consensus price target of $243.00.

Cencora Stock Up 1.3 %

NYSE COR traded up $3.11 on Friday, hitting $247.57. 3,292,432 shares of the stock traded hands, compared to its average volume of 1,217,035. The stock has a 50-day moving average of $228.85 and a 200 day moving average of $231.27. Cencora has a twelve month low of $171.65 and a twelve month high of $247.66. The company has a market capitalization of $49.38 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. The business 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 quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.92 EPS. As a group, analysts expect that Cencora will post 13.56 earnings per share for the current fiscal year.

Cencora Announces Dividend

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

Insider Activity at Cencora

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the sale, the insider now directly owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Insiders have sold a total of 1,899,112 shares of company stock worth $408,654,376 in the last three months. 15.80% of the stock is owned by company insiders.

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.