Wall Street brokerages forecast that AmerisourceBergen Corp. (NYSE:ABC) will announce earnings of $1.58 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for AmerisourceBergen’s earnings, with the lowest EPS estimate coming in at $1.56 and the highest estimate coming in at $1.60. AmerisourceBergen posted earnings per share of $1.45 in the same quarter last year, which indicates a positive year-over-year growth rate of 9%. The business is expected to issue its next earnings results on Tuesday, November 5th.
According to Zacks, analysts expect that AmerisourceBergen will report full year earnings of $7.05 per share for the current year, with EPS estimates ranging from $7.03 to $7.08. For the next financial year, analysts expect that the company will report earnings of $7.58 per share, with EPS estimates ranging from $7.50 to $7.65. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow AmerisourceBergen.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.14. The business had revenue of $45.24 billion for the quarter, compared to the consensus estimate of $45.15 billion. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 EPS.
Several research analysts recently issued reports on the stock. TheStreet upgraded shares of AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Zacks Investment Research upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Wednesday, June 12th. Deutsche Bank assumed coverage on shares of AmerisourceBergen in a research report on Thursday. They set a “hold” rating and a $91.00 price target on the stock. Finally, Morgan Stanley reduced their price target on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $87.38.
NYSE ABC traded down $1.22 on Friday, hitting $83.42. 1,262,190 shares of the company were exchanged, compared to its average volume of 1,413,177. The firm has a 50 day moving average of $86.15 and a two-hundred day moving average of $81.99. The company has a market cap of $18.05 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.54 and a beta of 1.00. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. AmerisourceBergen has a 1-year low of $69.36 and a 1-year high of $94.85.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.92%. AmerisourceBergen’s payout ratio is presently 24.65%.
In other AmerisourceBergen news, Director Henry Wadsworth Mcgee III sold 10,585 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $91.97, for a total transaction of $973,502.45. Following the transaction, the director now directly owns 24,510 shares in the company, valued at approximately $2,254,184.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Steven H. Collis sold 19,905 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $86.89, for a total transaction of $1,729,545.45. Following the transaction, the chief executive officer now owns 154,484 shares in the company, valued at $13,423,114.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,215 shares of company stock worth $16,240,235. Corporate insiders own 27.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ABC. Boston Partners increased its stake in shares of AmerisourceBergen by 2.5% in the 2nd quarter. Boston Partners now owns 2,402,458 shares of the company’s stock valued at $204,879,000 after acquiring an additional 59,431 shares during the last quarter. Atria Investments LLC bought a new stake in shares of AmerisourceBergen in the 2nd quarter valued at about $1,661,000. Mackenzie Financial Corp increased its stake in shares of AmerisourceBergen by 1.8% in the 2nd quarter. Mackenzie Financial Corp now owns 68,493 shares of the company’s stock valued at $5,840,000 after acquiring an additional 1,190 shares during the last quarter. BlackRock Inc. increased its stake in shares of AmerisourceBergen by 1.1% in the 2nd quarter. BlackRock Inc. now owns 12,325,863 shares of the company’s stock valued at $1,050,903,000 after acquiring an additional 136,458 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new stake in shares of AmerisourceBergen in the 2nd quarter valued at about $38,000. Institutional investors own 66.10% of the company’s stock.
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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