Cencora (NYSE:COR) Releases FY 2024 Earnings Guidance

Cencora (NYSE:COR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 13.250-13.500 for the period, compared to the consensus estimate of 13.450. The company issued revenue guidance of $288.4 billion-$293.6 billion, compared to the consensus revenue estimate of $291.9 billion.

Cencora Stock Down 0.2 %

Shares of NYSE COR opened at $241.87 on Thursday. 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 52 week low of $150.25 and a 52 week high of $243.83. The firm’s fifty day moving average is $230.73 and its 200 day moving average is $206.30. The company has a market cap of $48.25 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 1.83 and a beta of 0.44.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, January 31st. The company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.42. The business had revenue of $72.25 billion for the quarter, compared to analysts’ expectations of $68.81 billion. Cencora had a net margin of 0.69% and a return on equity of 323.23%. During the same quarter in the prior year, the business earned $2.71 EPS. On average, equities research analysts expect that Cencora will post 13.43 earnings per share for the current year.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were paid a $0.51 dividend. This is a positive change from Cencora’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, February 8th. This represents a $2.04 dividend on an annualized basis and a yield of 0.84%. Cencora’s dividend payout ratio (DPR) is presently 22.22%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays initiated coverage on Cencora in a research note on Wednesday, January 3rd. They set an overweight rating and a $242.00 price target on the stock. Leerink Partnrs restated an outperform rating on shares of Cencora in a research note on Monday, February 26th. Mizuho boosted their price target on Cencora from $192.00 to $224.00 and gave the stock a neutral rating in a research note on Monday, February 5th. SVB Leerink assumed coverage on Cencora in a research note on Monday, February 26th. They set an outperform rating and a $261.00 price target on the stock. Finally, Wells Fargo & Company began coverage on Cencora in a research report on Thursday, December 14th. They issued an equal weight rating and a $213.00 target price on the stock. Three investment 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 presently has an average rating of Moderate Buy and an average price target of $214.90.

Insider Buying and Selling

In other Cencora news, EVP Gina Clark sold 1,100 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $230.48, for a total transaction of $253,528.00. Following the completion of the transaction, the executive vice president now directly owns 24,802 shares of the company’s stock, valued at approximately $5,716,364.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Gina Clark sold 1,100 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $230.48, for a total transaction of $253,528.00. Following the completion of the sale, the executive vice president now directly owns 24,802 shares of the company’s stock, valued at approximately $5,716,364.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth S. Campbell sold 6,977 shares of the stock in a transaction 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 owns 8,246 shares of the company’s stock, valued at approximately $1,963,537.52. The disclosure for this sale can be found here. Insiders sold 4,220,472 shares of company stock valued at $993,554,798 in the last three months. 15.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cencora

Institutional investors have recently bought and sold shares of the stock. Harbour Investments Inc. raised its holdings in Cencora by 61.8% during the first quarter. Harbour Investments Inc. now owns 165 shares of the company’s stock valued at $26,000 after buying an additional 63 shares in the last quarter. MBM Wealth Consultants LLC acquired a new stake in shares of Cencora in the fourth quarter valued at about $41,000. KB Financial Partners LLC acquired a new stake in shares of Cencora in the first quarter valued at about $42,000. Sunbelt Securities Inc. acquired a new stake in shares of Cencora in the first quarter valued at about $44,000. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Cencora in the fourth quarter valued at about $46,000. 93.12% of the stock is currently owned by institutional investors.

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.