Walgreen Company’s Overweight Rating Reaffirmed at Citigroup Inc. (WAG)
Walgreen Company (NYSE:WAG)‘s stock had its “overweight” rating restated by Citigroup Inc. in a research note issued on Tuesday, Analyst Ratings Network.com reports. They currently have a $75.00 price target on the stock. Citigroup Inc.’s price target would indicate a potential upside of 14.21% from the stock’s previous close.
The analysts wrote, “Strategically, re-domiciling could mean increased involvement from Pessina & AB. In a European structure, Stefano Pessina would likely be Executive Director, a role that typically encompasses setting company strategic direction. This differs from a US structure, where as a board member or potentially Chairman, Pessina & the board would approve the CEO’s strategy.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Guggenheim raised their price target on shares of Walgreen Company from $52.00 to $75.00 in a research note on Monday, April 7th. Separately, analysts at Morgan Stanley raised their price target on shares of Walgreen Company from $68.00 to $75.00 in a research note on Thursday, March 27th. Finally, analysts at ISI Group raised their price target on shares of Walgreen Company from $69.00 to $70.00 in a research note on Wednesday, March 26th. They now have a “neutral” rating on the stock. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Walgreen Company has a consensus rating of “Hold” and an average target price of $67.75.
Shares of Walgreen Company (NYSE:WAG) traded down 2.13% during mid-day trading on Tuesday, hitting $64.2725. 3,492,917 shares of the company’s stock traded hands. Walgreen Company has a 1-year low of $43.31 and a 1-year high of $69.84. The stock’s 50-day moving average is $66.28 and its 200-day moving average is $60.71. The company has a market cap of $61.337 billion and a price-to-earnings ratio of 23.12.
Walgreen Company (NYSE:WAG) last released its earnings data on Tuesday, March 25th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by $0.02. The company had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $19.61 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts expect that Walgreen Company will post $3.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, June 12th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Monday, May 19th.
Walgreen Co (NYSE:WAG) together with its subsidiaries, operates the drugstore chain in the United States.
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