Zacks: Analysts Anticipate AmerisourceBergen Co. (NYSE:ABC) Will Post Quarterly Sales of $50.58 Billion

Brokerages expect AmerisourceBergen Co. (NYSE:ABC) to report $50.58 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for AmerisourceBergen’s earnings, with estimates ranging from $50.06 billion to $51.11 billion. AmerisourceBergen posted sales of $47.86 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.7%. The company is scheduled to issue its next quarterly earnings report before the market opens on Thursday, February 4th.

On average, analysts expect that AmerisourceBergen will report full-year sales of $200.89 billion for the current fiscal year, with estimates ranging from $199.69 billion to $201.98 billion. For the next year, analysts expect that the firm will post sales of $211.08 billion, with estimates ranging from $207.68 billion to $213.26 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for AmerisourceBergen.

AmerisourceBergen (NYSE:ABC) last announced its earnings results on Tuesday, November 10th. The company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.02. AmerisourceBergen had a negative net margin of 1.80% and a positive return on equity of 65.93%. The business had revenue of $49.24 billion during the quarter, compared to analysts’ expectations of $47.93 billion. During the same period in the prior year, the company earned $1.61 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year.

A number of brokerages have recently commented on ABC. Deutsche Bank Aktiengesellschaft upped their target price on shares of AmerisourceBergen from $104.00 to $111.00 and gave the company a “hold” rating in a report on Friday, November 6th. Mizuho increased their price target on shares of AmerisourceBergen from $100.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, November 13th. BidaskClub cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, December 23rd. Morgan Stanley increased their price target on shares of AmerisourceBergen from $121.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, November 9th. Finally, ValuEngine cut shares of AmerisourceBergen from a “sell” rating to a “strong sell” rating in a report on Saturday, December 5th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. AmerisourceBergen has a consensus rating of “Hold” and a consensus target price of $107.90.

In other AmerisourceBergen news, EVP John G. Chou sold 5,602 shares of AmerisourceBergen stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $97.89, for a total value of $548,379.78. Following the transaction, the executive vice president now owns 57,397 shares in the company, valued at approximately $5,618,592.33. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert P. Mauch sold 77,560 shares of the firm’s stock in a transaction on Monday, December 14th. The shares were sold at an average price of $98.02, for a total transaction of $7,602,431.20. Following the completion of the transaction, the executive vice president now directly owns 99,362 shares in the company, valued at approximately $9,739,463.24. The disclosure for this sale can be found here. Company insiders own 28.30% of the company’s stock.

Hedge funds have recently modified their holdings of the company. State of Tennessee Treasury Department raised its stake in shares of AmerisourceBergen by 392.4% in the 3rd quarter. State of Tennessee Treasury Department now owns 322,198 shares of the company’s stock valued at $31,228,000 after acquiring an additional 256,770 shares during the period. California State Teachers Retirement System raised its stake in shares of AmerisourceBergen by 2.2% in the 3rd quarter. California State Teachers Retirement System now owns 268,477 shares of the company’s stock valued at $26,021,000 after acquiring an additional 5,736 shares during the period. New Mexico Educational Retirement Board raised its stake in shares of AmerisourceBergen by 19.3% in the 3rd quarter. New Mexico Educational Retirement Board now owns 12,041 shares of the company’s stock valued at $991,000 after acquiring an additional 1,950 shares during the period. AQR Capital Management LLC raised its stake in shares of AmerisourceBergen by 35.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,932,544 shares of the company’s stock valued at $191,225,000 after acquiring an additional 510,954 shares during the period. Finally, First Republic Investment Management Inc. increased its stake in AmerisourceBergen by 13.5% during the 2nd quarter. First Republic Investment Management Inc. now owns 23,935 shares of the company’s stock worth $2,412,000 after buying an additional 2,840 shares during the period. 61.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:ABC opened at $97.76 on Friday. The company has a 50-day simple moving average of $100.82 and a 200-day simple moving average of $99.71. AmerisourceBergen has a one year low of $72.06 and a one year high of $111.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.60 and a current ratio of 0.98. The stock has a market capitalization of $19.97 billion, a price-to-earnings ratio of -5.82, a PEG ratio of 1.51 and a beta of 0.57.

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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