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

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) released its earnings results on Thursday. The pharmacy operator reported $1.20 EPS for the quarter, beating the consensus estimate of $0.82 by $0.38, Briefing.com reports. Walgreens Boots Alliance had a negative net margin of 4.18% and a positive return on equity of 12.11%. The business 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 earned $1.16 earnings per share. The business’s quarterly revenue 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 Price Performance

NASDAQ WBA opened at $21.69 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.66 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $21.71 and a 200 day simple moving average of $22.27. Walgreens Boots Alliance has a 1 year low of $19.68 and a 1 year high of $36.58.

Walgreens Boots Alliance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Friday, February 16th. Walgreens Boots Alliance’s dividend payout ratio is currently -14.29%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays assumed coverage on shares of Walgreens Boots Alliance in a research report on Wednesday, January 3rd. They issued an “underweight” rating and a $21.00 price target for the company. TheStreet upgraded shares of Walgreens Boots Alliance from a “d+” rating to a “c-” rating in a research note on Monday, January 8th. Bank of America dropped their price objective on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set an “underperform” rating on the stock in a research note on Tuesday. HSBC reiterated a “reduce” rating and issued a $20.00 price objective (down previously from $27.00) on shares of Walgreens Boots Alliance in a research note on Tuesday, February 20th. Finally, Leerink Partnrs restated a “market perform” rating on shares of Walgreens Boots Alliance in a research note on Monday, February 26th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Walgreens Boots Alliance presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Read Our Latest Analysis on WBA

Insider Buying and Selling

In other Walgreens Boots Alliance 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Walgreens Boots Alliance 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy C. Wentworth purchased 10,000 shares of Walgreens Boots Alliance stock in a transaction on Friday, January 5th. The stock was bought at an average cost of $24.22 per share, with a total value of $242,200.00. Following the completion of the acquisition, the chief executive officer now owns 585,122 shares in the company, valued at $14,171,654.84. The disclosure for this purchase can be found here. 17.40% of the stock is owned by insiders.

Institutional Trading of Walgreens Boots Alliance

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Walgreens Boots Alliance by 4.6% in the 1st quarter. BlackRock Inc. now owns 63,406,129 shares of the pharmacy operator’s stock valued at $2,192,584,000 after purchasing an additional 2,797,885 shares during the period. Morgan Stanley lifted its holdings in shares of Walgreens Boots Alliance by 10.7% during the 4th quarter. Morgan Stanley now owns 11,974,220 shares of the pharmacy operator’s stock worth $447,357,000 after acquiring an additional 1,155,331 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of Walgreens Boots Alliance by 84,503.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,325,830 shares of the pharmacy operator’s stock worth $311,053,000 after acquiring an additional 8,315,989 shares during the period. Legal & General Group Plc lifted its holdings in shares of Walgreens Boots Alliance by 10.7% during the 4th quarter. Legal & General Group Plc now owns 7,356,393 shares of the pharmacy operator’s stock worth $192,076,000 after acquiring an additional 710,807 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Walgreens Boots Alliance by 7.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,132,750 shares of the pharmacy operator’s stock worth $229,794,000 after acquiring an additional 358,403 shares during the period. 58.59% of the stock is owned by institutional investors.

Walgreens Boots Alliance Company Profile

(Get Free Report)

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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