Walgreens Boots Alliance (NASDAQ:WBA) Announces Quarterly Earnings Results

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) posted its quarterly earnings results on Thursday. The pharmacy operator reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.38, Briefing.com reports. The business had revenue of $37.05 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Walgreens Boots Alliance had a negative net margin of 4.18% and a positive return on equity of 12.11%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. 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 %

Walgreens Boots Alliance stock opened at $21.69 on Friday. Walgreens Boots Alliance has a 52-week low of $19.68 and a 52-week high of $36.58. The company’s 50 day moving average is $21.71 and its two-hundred day moving average is $22.27. The company has a current ratio of 0.66, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50.

Walgreens Boots Alliance Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a yield of 4.61%. Walgreens Boots Alliance’s dividend payout ratio (DPR) is presently -14.29%.

Analyst Ratings Changes

WBA has been the subject of a number of analyst reports. TheStreet upgraded shares of Walgreens Boots Alliance from a “d+” rating to a “c-” rating in a research report on Monday, January 8th. Barclays assumed coverage on shares of Walgreens Boots Alliance in a research note on Wednesday, January 3rd. They set an “underweight” rating and a $21.00 price objective for the company. Morgan Stanley dropped 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 research note on Tuesday. SVB Leerink dropped their price objective on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Monday, March 18th. Finally, Bank of America dropped their price objective on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $25.00.

View Our Latest Stock Analysis on Walgreens Boots Alliance

Insider Buying and Selling at Walgreens Boots Alliance

In other news, Director Valerie B. Jarrett acquired 4,456 shares of the company’s stock in a transaction 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 transaction, the director now owns 4,456 shares in the company, valued at approximately $99,992.64. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Nancy M. Schlichting sold 15,209 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $23.05, for a total value of $350,567.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Valerie B. Jarrett bought 4,456 shares of the company’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 completion of the transaction, the director now directly owns 4,456 shares in the company, valued at $99,992.64. The disclosure for this purchase can be found here. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Milestone Investment Advisors LLC purchased a new position in Walgreens Boots Alliance during the 1st quarter worth $31,000. Penserra Capital Management LLC acquired a new stake in shares of Walgreens Boots Alliance in the 4th quarter worth $34,000. Groupama Asset Managment acquired a new stake in shares of Walgreens Boots Alliance in the 4th quarter worth $42,000. Financial Freedom LLC acquired a new stake in shares of Walgreens Boots Alliance in the 4th quarter worth $46,000. Finally, Compass Wealth Management LLC acquired a new stake in shares of Walgreens Boots Alliance in the 4th quarter worth $47,000. 58.59% of the stock is owned by hedge funds and other institutional investors.

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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