AmerisourceBergen (NYSE:ABC) Releases Earnings Results, Beats Expectations By $0.03 EPS

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

NYSE:ABC traded up $1.99 during trading hours on Friday, reaching $86.07. The stock had a trading volume of 976,127 shares, compared to its average volume of 1,377,801. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.95. The stock has a 50 day simple moving average of $84.48 and a 200 day simple moving average of $83.73. AmerisourceBergen has a 12-month low of $69.36 and a 12-month high of $94.75. The stock has a market cap of $18.10 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98.

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

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

In other news, EVP John G. Chou sold 13,997 shares of AmerisourceBergen stock in a transaction on Monday, October 7th. The stock was sold at an average price of $81.48, for a total value of $1,140,475.56. Following the completion of the transaction, the executive vice president now directly owns 65,782 shares in the company, valued at $5,359,917.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Steven H. Collis sold 19,905 shares of AmerisourceBergen stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 154,484 shares of the company’s stock, valued at $13,297,982.72. The disclosure for this sale can be found here. Insiders sold 95,509 shares of company stock valued at $8,088,531 over the last three months. Company insiders own 27.80% 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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Earnings History for AmerisourceBergen (NYSE:ABC)

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