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

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) announced its earnings results on Thursday. The pharmacy operator reported $1.20 earnings per share (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 for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter last year, the business earned $1.16 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. 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

Shares of WBA opened at $21.69 on Friday. Walgreens Boots Alliance has a 1-year low of $19.68 and a 1-year high of $36.58. The firm has a 50-day simple moving average of $21.71 and a two-hundred day simple moving average of $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 company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is presently -14.29%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WBA. Raymond James reiterated a “market perform” rating on shares of Walgreens Boots Alliance in a research report on Tuesday. Bank of America dropped their target price on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set an “underperform” rating on the stock in a research report on Tuesday. SVB Leerink dropped their target price 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. HSBC reissued a “reduce” rating and issued a $20.00 price target (down from $27.00) on shares of Walgreens Boots Alliance in a research note on Tuesday, February 20th. Finally, Leerink Partnrs reissued a “market perform” rating on shares of Walgreens Boots Alliance in a research note on Monday, February 26th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.00.

Check Out Our Latest Stock Report on Walgreens Boots Alliance

Insider Buying and Selling at Walgreens Boots Alliance

In other Walgreens Boots Alliance news, Director Nancy M. Schlichting sold 15,209 shares of Walgreens Boots Alliance stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $23.05, for a total transaction of $350,567.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Walgreens Boots Alliance news, CEO Timothy C. Wentworth purchased 10,000 shares of the company’s stock in a transaction on Friday, January 5th. The stock was acquired at an average price of $24.22 per share, for a total transaction of $242,200.00. Following the completion of the purchase, the chief executive officer now directly owns 585,122 shares in the company, valued at approximately $14,171,654.84. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, 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 disclosure for this sale can be found here. Company insiders own 17.40% of the company’s stock.

Institutional Trading of Walgreens Boots Alliance

Several hedge funds have recently modified their holdings of the stock. Milestone Investment Advisors LLC acquired a new stake in Walgreens Boots Alliance in the first quarter valued at $31,000. Penserra Capital Management LLC acquired a new stake in Walgreens Boots Alliance in the fourth quarter valued at $34,000. Groupama Asset Managment acquired a new stake in Walgreens Boots Alliance in the fourth quarter valued at $42,000. Financial Freedom LLC acquired a new stake in Walgreens Boots Alliance in the fourth quarter valued at $46,000. Finally, Compass Wealth Management LLC acquired a new stake in Walgreens Boots Alliance in the fourth quarter valued at $47,000. 58.59% of the stock is currently owned by institutional investors and hedge funds.

Walgreens Boots Alliance Company Profile

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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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