Walgreen Company Downgraded to Market Perform at Cowen and Company (WAG)
Walgreen Company (NYSE:WAG) was downgraded by equities research analysts at Cowen and Company to a “market perform” rating in a research note issued to investors on Wednesday, Analyst Ratings Network reports.
Walgreen Company (NYSE:WAG) opened at 69.57 on Wednesday. Walgreen Company has a one year low of $43.31 and a one year high of $71.02. The stock’s 50-day moving average is $66.78 and its 200-day moving average is $62.37. The company has a market cap of $66.393 billion and a price-to-earnings ratio of 24.42.
Walgreen Company (NYSE:WAG) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.91 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.96 earnings per share. Walgreen Company’s revenue was up 5.1% compared to the same quarter last year. 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. Investors 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 1.81%. The ex-dividend date is Monday, May 19th.
WAG has been the subject of a number of other recent research reports. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Walgreen Company in a research note on Monday. They now have a $75.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Walgreen Company in a research note on Wednesday, April 30th. They now have a $69.00 price target on the stock, up previously from $62.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Walgreen Company in a research note on Friday, April 25th. They now have a $71.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $68.39.
Walgreen Co (NYSE:WAG), together with its subsidiaries, operates as a retail drugstore chain in the United States.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.