Zacks: Analysts Expect AmerisourceBergen Corp. (NYSE:ABC) Will Announce Earnings of $1.56 Per Share

Equities research analysts expect AmerisourceBergen Corp. (NYSE:ABC) to report earnings of $1.56 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for AmerisourceBergen’s earnings, with estimates ranging from $1.48 to $1.60. AmerisourceBergen posted earnings of $1.45 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.6%. The firm is expected to issue its next quarterly earnings report on Tuesday, November 5th.

On average, analysts expect that AmerisourceBergen will report full year earnings of $7.05 per share for the current fiscal year, with EPS estimates ranging from $7.03 to $7.08. For the next financial year, analysts anticipate that the company will post earnings of $7.54 per share, with EPS estimates ranging from $7.21 to $7.70. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow AmerisourceBergen.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.14. The firm had revenue of $45.24 billion for 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%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 earnings per share.

ABC has been the topic of several analyst reports. Zacks Investment Research upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Wednesday, June 12th. Argus decreased their price objective on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. TheStreet raised AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. Finally, ValuEngine cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. AmerisourceBergen has a consensus rating of “Hold” and a consensus price target of $88.00.

In other AmerisourceBergen news, Director Henry Wadsworth Mcgee III sold 10,585 shares of AmerisourceBergen stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $91.97, for a total transaction of $973,502.45. Following the sale, the director now directly owns 24,510 shares of the company’s stock, valued at approximately $2,254,184.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven H. Collis sold 19,905 shares of AmerisourceBergen stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.58, for a total value of $1,783,089.90. Following the sale, the chief executive officer now directly owns 154,484 shares in the company, valued at $13,838,676.72. The disclosure for this sale can be found here. Insiders sold 185,336 shares of company stock worth $16,014,325 over the last three months. 27.80% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Alpha Windward LLC raised its stake in AmerisourceBergen by 6.6% during the second quarter. Alpha Windward LLC now owns 1,845 shares of the company’s stock worth $161,000 after acquiring an additional 114 shares in the last quarter. Capital Wealth Planning LLC boosted its holdings in shares of AmerisourceBergen by 1.1% during the second quarter. Capital Wealth Planning LLC now owns 10,236 shares of the company’s stock valued at $873,000 after acquiring an additional 115 shares during the period. Pathstone Family Office LLC boosted its holdings in shares of AmerisourceBergen by 67.7% during the second quarter. Pathstone Family Office LLC now owns 312 shares of the company’s stock valued at $27,000 after acquiring an additional 126 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of AmerisourceBergen by 1.1% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,424 shares of the company’s stock valued at $988,000 after acquiring an additional 138 shares during the period. Finally, Rothschild Investment Corp IL boosted its holdings in shares of AmerisourceBergen by 1.1% during the second quarter. Rothschild Investment Corp IL now owns 12,345 shares of the company’s stock valued at $1,053,000 after acquiring an additional 140 shares during the period. 65.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of ABC traded down $0.77 during trading hours on Thursday, hitting $85.55. The company had a trading volume of 894,034 shares, compared to its average volume of 1,424,768. The firm has a market cap of $18.44 billion, a P/E ratio of 13.18, a P/E/G ratio of 1.57 and a beta of 0.97. The stock’s 50 day moving average price is $87.59 and its 200 day moving average price is $82.13. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.40. AmerisourceBergen has a 52-week low of $69.36 and a 52-week high of $94.85.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 19th will be paid a $0.40 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.87%. AmerisourceBergen’s payout ratio is presently 24.65%.

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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