AmerisourceBergen (ABC) Issues FY19 Earnings Guidance

AmerisourceBergen (NYSE:ABC) updated its FY19 earnings guidance on Tuesday. The company provided EPS guidance of $6.65-6.95 for the period, compared to the Thomson Reuters consensus EPS estimate of $7.13. AmerisourceBergen also updated its FY 2019 guidance to $6.65-6.95 EPS.

A number of analysts have recently commented on the company. Royal Bank of Canada set a $90.00 price objective on AmerisourceBergen and gave the company a hold rating in a research report on Wednesday. ValuEngine upgraded AmerisourceBergen from a sell rating to a hold rating in a research report on Wednesday, August 15th. Robert W. Baird restated a neutral rating and issued a $94.00 price objective on shares of AmerisourceBergen in a research report on Friday, July 20th. Mizuho restated a neutral rating on shares of AmerisourceBergen in a research report on Wednesday, September 19th. Finally, Zacks Investment Research cut AmerisourceBergen from a hold rating to a sell rating in a research report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. AmerisourceBergen presently has an average rating of Hold and an average price target of $101.07.

Shares of ABC traded up $2.51 during trading hours on Wednesday, hitting $86.51. 118,792 shares of the stock were exchanged, compared to its average volume of 1,334,898. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.51 and a current ratio of 0.94. AmerisourceBergen has a 12-month low of $73.35 and a 12-month high of $106.27. The stock has a market capitalization of $19.16 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.26 and a beta of 0.97.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $1.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.01. AmerisourceBergen had a return on equity of 48.65% and a net margin of 0.69%. The firm had revenue of $43.30 billion during the quarter, compared to analysts’ expectations of $43.27 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts predict that AmerisourceBergen will post 6.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.85%. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.38. AmerisourceBergen’s payout ratio is presently 25.85%.

In related news, EVP John G. Chou sold 6,974 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $83.94, for a total transaction of $585,397.56. Following the completion of the sale, the executive vice president now directly owns 56,126 shares in the company, valued at $4,711,216.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kathy H. Gaddes sold 2,652 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $87.71, for a total value of $232,606.92. Following the sale, the insider now owns 3,891 shares of the company’s stock, valued at $341,279.61. The disclosure for this sale can be found here. Insiders have sold 92,928 shares of company stock valued at $8,332,406 over the last quarter. 27.30% of the stock is owned by company insiders.

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About AmerisourceBergen

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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