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.

Several analysts have recently commented on the company. TheStreet cut AmerisourceBergen from a b rating to a c+ rating in a report on Thursday. Deutsche Bank assumed coverage on AmerisourceBergen in a report on Thursday, September 12th. They issued a hold rating and a $91.00 price target for the company. Morgan Stanley reduced their price target on AmerisourceBergen from $91.00 to $83.00 and set an equal weight rating for the company in a report on Friday, September 6th. Finally, ValuEngine cut AmerisourceBergen from a hold rating to a sell rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $87.38.

ABC stock traded up $1.99 during midday trading on Friday, hitting $86.07. 985,605 shares of the stock were exchanged, compared to its average volume of 1,377,801. The stock’s 50-day moving average price is $84.48 and its 200-day moving average price is $83.73. The stock has a market cap of $18.10 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 1.44 and a beta of 0.98. AmerisourceBergen has a fifty-two week low of $69.36 and a fifty-two week high of $94.75. 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 (NYSE:ABC) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.03. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The company had revenue of $45.64 billion during the quarter, compared to analysts’ expectations of $45.15 billion. During the same period in the previous year, the firm posted $1.45 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts anticipate that AmerisourceBergen will post 7.05 EPS for the current year.

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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.86%. AmerisourceBergen’s dividend payout ratio (DPR) is 24.65%.

In other news, EVP John G. Chou sold 13,997 shares of AmerisourceBergen stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $86.29, for a total value of $1,207,801.13. Following the completion of the sale, the executive vice president now owns 65,782 shares of the company’s stock, valued at $5,676,328.78. 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 sale, the chief executive officer now directly owns 154,484 shares of the company’s stock, valued at approximately $13,297,982.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,509 shares of company stock valued at $8,088,531. 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 and Estimates for AmerisourceBergen (NYSE:ABC)

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