AmerisourceBergen (NYSE:ABC) Announces Earnings Results

AmerisourceBergen (NYSE:ABC) issued its earnings results on Thursday. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.03, Briefing.com reports. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The business had revenue of $45.64 billion during the quarter, compared to analysts’ expectations of $45.15 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. AmerisourceBergen updated its FY20 guidance to $7.30-7.60 EPS.

Shares of ABC stock traded up $1.99 on Friday, hitting $86.07. The company had a trading volume of 976,127 shares, compared to its average volume of 1,377,801. The firm has a market cap of $18.10 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.44 and a beta of 0.98. The stock’s 50-day moving average is $84.48 and its two-hundred day moving average is $83.73. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.95. AmerisourceBergen has a twelve month low of $69.36 and a twelve month high of $94.75.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.86%. AmerisourceBergen’s payout ratio is 24.65%.

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on AmerisourceBergen from $95.00 to $91.00 and set a “neutral” rating for the company in a research note on Friday. ValuEngine cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Morgan Stanley decreased their price target on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, September 6th. TheStreet cut AmerisourceBergen from a “b” rating to a “c+” rating in a research note on Thursday. Finally, Deutsche Bank assumed coverage on AmerisourceBergen in a research note on Thursday, September 12th. They issued a “hold” rating and a $91.00 price target for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. AmerisourceBergen currently has an average rating of “Hold” and a consensus target price of $87.78.

In related news, CEO Steven H. Collis sold 19,905 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $86.89, for a total transaction of $1,729,545.45. Following the sale, the chief executive officer now owns 154,484 shares in the company, valued at approximately $13,423,114.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John G. Chou sold 13,997 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $86.29, for a total value of $1,207,801.13. Following the sale, the executive vice president now owns 65,782 shares in the company, valued at approximately $5,676,328.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,509 shares of company stock worth $8,088,531. 27.80% of the stock is owned by corporate insiders.

AmerisourceBergen Company Profile

AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.

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Earnings History for AmerisourceBergen (NYSE:ABC)

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