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.

Cencora Stock Performance

Shares of COR traded up $3.11 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 stock has a market capitalization of $49.38 billion, a P/E ratio of 27.09, a PEG ratio of 1.68 and a beta of 0.45. Cencora has a 12-month low of $171.65 and a 12-month high of $247.66. The stock’s 50 day simple moving average is $228.85 and its two-hundred day simple moving average is $231.18. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.53.

Cencora (NYSE:COR) last issued its 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 firm had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. Cencora’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.92 earnings per share. Research analysts forecast that Cencora will post 13.56 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the 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 completion of the transaction, the insider now owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Cencora news, Director Dermot Mark Durcan purchased 500 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were purchased at an average cost of $218.58 per share, with a total value of $109,290.00. Following the purchase, the director now owns 21,876 shares in the company, valued at $4,781,656.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,899,112 shares of company stock valued at $408,654,376. 15.80% of the stock is currently owned by company insiders.

About Cencora

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.