Walgreens Boots Alliance (NASDAQ:WBA) Releases Quarterly Earnings Results, Beats Estimates By $0.38 EPS

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) posted its earnings results on Thursday. The pharmacy operator reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.38, Briefing.com reports. Walgreens Boots Alliance had a net margin of 0.40% and a return on equity of 10.48%. The company had revenue of $37.05 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same period in the prior year, the business posted $1.16 earnings per share. Walgreens Boots Alliance’s revenue for the quarter was up 6.3% on a year-over-year basis. Walgreens Boots Alliance updated its FY24 guidance to $3.20-3.35 EPS and its FY 2024 guidance to 3.200-3.350 EPS.

Walgreens Boots Alliance Stock Up 3.2 %

NASDAQ:WBA opened at $21.69 on Friday. The firm has a 50-day simple moving average of $21.72 and a two-hundred day simple moving average of $22.28. The firm has a market cap of $18.71 billion, a P/E ratio of 32.86, a P/E/G ratio of 1.30 and a beta of 0.73. Walgreens Boots Alliance has a fifty-two week low of $19.68 and a fifty-two week high of $36.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.66.

Walgreens Boots Alliance Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date was Friday, February 16th. Walgreens Boots Alliance’s payout ratio is 151.52%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Leerink Partnrs reiterated a “market perform” rating on shares of Walgreens Boots Alliance in a report on Monday, February 26th. Barclays initiated coverage on shares of Walgreens Boots Alliance in a research report on Wednesday, January 3rd. They set an “underweight” rating and a $21.00 price objective on the stock. HSBC reaffirmed a “reduce” rating and issued a $20.00 target price (down from $27.00) on shares of Walgreens Boots Alliance in a research report on Tuesday, February 20th. SVB Leerink reduced their price target on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Monday, March 18th. Finally, Morgan Stanley lowered their price objective on shares of Walgreens Boots Alliance from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Tuesday. Four analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.00.

Check Out Our Latest Report on WBA

Insider Transactions at Walgreens Boots Alliance

In other news, Director Valerie B. Jarrett acquired 4,456 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average cost of $22.44 per share, for a total transaction of $99,992.64. Following the acquisition, the director now directly owns 4,456 shares in the company, valued at $99,992.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Walgreens Boots Alliance news, Director Valerie B. Jarrett acquired 4,456 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average cost of $22.44 per share, with a total value of $99,992.64. Following the completion of the transaction, the director now directly owns 4,456 shares of the company’s stock, valued at approximately $99,992.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nancy M. Schlichting sold 15,209 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $23.05, for a total value of $350,567.45. The disclosure for this sale can be found here. Insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Walgreens Boots Alliance

A number of large investors have recently added to or reduced their stakes in the stock. Milestone Investment Advisors LLC bought a new position in shares of Walgreens Boots Alliance during the 1st quarter valued at $31,000. Penserra Capital Management LLC purchased a new stake in Walgreens Boots Alliance during the fourth quarter valued at $34,000. Groupama Asset Managment bought a new position in Walgreens Boots Alliance in the fourth quarter valued at about $42,000. Financial Freedom LLC bought a new stake in shares of Walgreens Boots Alliance during the 4th quarter valued at about $46,000. Finally, Compass Wealth Management LLC bought a new stake in shares of Walgreens Boots Alliance during the 4th quarter valued at about $47,000. Institutional investors own 58.59% of the company’s stock.

About Walgreens Boots Alliance

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Walgreens Boots Alliance, Inc operates as a healthcare, pharmacy, and retail company in the United States, the United Kingdom, Germany, and internationally. It operates through three segments: U.S. Retail Pharmacy, International, and U.S. Healthcare. The U.S. Retail Pharmacy segment engages in operation of the retail drugstores, health and wellness services, specialty, and home delivery pharmacy services, which offers health and wellness, beauty, personal care and consumables, and general merchandise.

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Earnings History for Walgreens Boots Alliance (NASDAQ:WBA)

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