AmerisourceBergen (NYSE:ABC) Updates FY20 Earnings Guidance

AmerisourceBergen (NYSE:ABC) updated its FY20 earnings guidance on Thursday. The company provided earnings per share guidance of $7.30-7.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.58.

A number of brokerages have recently issued reports on ABC. Morgan Stanley dropped their target price on shares of AmerisourceBergen from $91.00 to $83.00 and set an equal weight rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. dropped their target price on shares of AmerisourceBergen from $95.00 to $91.00 and set a neutral rating on the stock in a report on Friday. TheStreet cut shares of AmerisourceBergen from a b rating to a c+ rating in a report on Thursday. ValuEngine cut shares of AmerisourceBergen from a hold rating to a sell rating in a report on Friday, November 1st. Finally, Deutsche Bank began coverage on shares of AmerisourceBergen in a report on Thursday, September 12th. They issued a hold rating and a $91.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $87.78.

AmerisourceBergen stock opened at $86.07 on Friday. The stock 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 company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.40. AmerisourceBergen has a twelve month low of $69.36 and a twelve month high of $94.75. The company’s 50-day moving average price is $84.48 and its two-hundred day moving average price is $83.73.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.03. The firm had revenue of $45.64 billion for the quarter, compared to analysts’ expectations of $45.15 billion. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 EPS. Equities analysts anticipate that AmerisourceBergen will post 7.05 earnings per share for the current fiscal year.

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

In other AmerisourceBergen news, CEO Steven H. Collis sold 19,905 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $86.08, for a total value of $1,713,422.40. Following the transaction, the chief executive officer now directly owns 154,484 shares of the company’s stock, valued at approximately $13,297,982.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gina Clark sold 7,800 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $84.96, for a total transaction of $662,688.00. Following the completion of the transaction, the executive vice president now directly owns 23,595 shares in the company, valued at $2,004,631.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,509 shares of company stock worth $8,088,531. Insiders own 27.80% of the company’s stock.

About AmerisourceBergen

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 and Estimates for AmerisourceBergen (NYSE:ABC)

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