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Cardinal Health (CAH) ended the recent trading session at $103.37, demonstrating a +0.53% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 1.2%. Elsewhere, the Dow saw an upswing of 0.69%, while the tech-heavy Nasdaq appreciated by 1.59%.

The the stock of prescription drug distributor has fallen by 7.37% in the past month, lagging the Medical sector's loss of 5.82% and the S&P 500's loss of 4.16%.

The investment community will be closely monitoring the performance of Cardinal Health in its forthcoming earnings report. The company is scheduled to release its earnings on May 2, 2024. In that report, analysts expect Cardinal Health to post earnings of $1.95 per share. This would mark year-over-year growth of 12.07%. At the same time, our most recent consensus estimate is projecting a revenue of $55.82 billion, reflecting a 10.56% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $7.28 per share and revenue of $226.9 billion, which would represent changes of +25.73% and +10.68%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Cardinal Health. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.07% downward. Right now, Cardinal Health possesses a Zacks Rank of #3 (Hold).

In terms of valuation, Cardinal Health is presently being traded at a Forward P/E ratio of 14.13. This expresses a discount compared to the average Forward P/E of 17.53 of its industry.

One should further note that CAH currently holds a PEG ratio of 0.99. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Medical - Dental Supplies industry stood at 1.79 at the close of the market yesterday.

The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.