Walgreens Boots Alliance Inc (NASDAQ:WBA) – Analysts at SunTrust Banks dropped their Q3 2019 earnings estimates for Walgreens Boots Alliance in a report released on Tuesday, June 25th, Zacks Investment Research reports. SunTrust Banks analyst D. Macdonald now anticipates that the pharmacy operator will earn $1.44 per share for the quarter, down from their prior forecast of $1.51. SunTrust Banks currently has a “Hold” rating and a $58.00 target price on the stock. SunTrust Banks also issued estimates for Walgreens Boots Alliance’s Q1 2020 earnings at $1.40 EPS, Q2 2020 earnings at $1.58 EPS, Q3 2020 earnings at $1.55 EPS and Q4 2020 earnings at $1.57 EPS.
Other analysts have also issued research reports about the company. TheStreet lowered 22nd Century Group from a “c-” rating to a “d+” rating in a research note on Friday, March 29th. Citigroup boosted their price objective on J2 Global from $86.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Zacks Investment Research raised Grana y Montero SAA from a “sell” rating to a “hold” rating in a research note on Monday, June 10th. Barclays boosted their price objective on Stanley Black & Decker from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Finally, UBS Group lowered Guangshen Railway Co. Ltd ADR Class H from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 3rd. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.82.
Walgreens Boots Alliance (NASDAQ:WBA) last announced its quarterly earnings results on Thursday, June 27th. The pharmacy operator reported $1.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.05. Walgreens Boots Alliance had a return on equity of 22.08% and a net margin of 3.53%. The business had revenue of $34.59 billion during the quarter, compared to analyst estimates of $34.52 billion. During the same period in the previous year, the company earned $1.53 EPS. The firm’s revenue was up .7% on a year-over-year basis.
Several large investors have recently bought and sold shares of WBA. Norges Bank bought a new position in shares of Walgreens Boots Alliance during the fourth quarter worth about $589,781,000. The Manufacturers Life Insurance Company boosted its position in Walgreens Boots Alliance by 263.4% during the first quarter. The Manufacturers Life Insurance Company now owns 3,306,439 shares of the pharmacy operator’s stock valued at $209,198,000 after purchasing an additional 2,396,640 shares during the last quarter. APG Asset Management N.V. boosted its position in Walgreens Boots Alliance by 66.2% during the fourth quarter. APG Asset Management N.V. now owns 3,740,281 shares of the pharmacy operator’s stock valued at $223,569,000 after purchasing an additional 1,489,401 shares during the last quarter. Janus Henderson Group PLC boosted its position in Walgreens Boots Alliance by 427.3% during the first quarter. Janus Henderson Group PLC now owns 1,732,966 shares of the pharmacy operator’s stock valued at $109,642,000 after purchasing an additional 1,404,322 shares during the last quarter. Finally, CI Investments Inc. boosted its position in Walgreens Boots Alliance by 260,045.0% during the fourth quarter. CI Investments Inc. now owns 1,248,696 shares of the pharmacy operator’s stock valued at $85,324,000 after purchasing an additional 1,248,216 shares during the last quarter. Institutional investors and hedge funds own 62.27% of the company’s stock.
In other Walgreens Boots Alliance news, CAO Marco Patrick Anthony Pagni sold 20,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $53.05, for a total value of $1,061,000.00. Following the completion of the sale, the chief accounting officer now directly owns 435,811 shares in the company, valued at $23,119,773.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.73% of the stock is owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be issued a $0.458 dividend. This is an increase from Walgreens Boots Alliance’s previous quarterly dividend of $0.44. This represents a $1.83 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Monday, August 19th. Walgreens Boots Alliance’s dividend payout ratio is 29.24%.
About Walgreens Boots Alliance
Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, beauty, personal care, consumable, and general merchandise products through its retail drugstores and convenient care clinics.
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