Walgreen Company PT Lowered to $69.00 (WAG)
Equities researchers at Deutsche Bank dropped their price target on shares of Walgreen Company (NYSE:WAG) to $69.00 in a research report issued on Tuesday. Deutsche Bank’s target price would indicate a potential upside of 11.31% from the company’s current price.
Walgreen Company (NYSE:WAG) traded down 0.53% during mid-day trading on Tuesday, hitting $61.66. The stock had a trading volume of 3,692,614 shares. Walgreen Company has a 52 week low of $46.75 and a 52 week high of $76.39. The stock has a 50-day moving average of $70. and a 200-day moving average of $67.95. The company has a market cap of $58.981 billion and a P/E ratio of 21.16. Walgreen Company also saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 21,387,669 shares, an increase of 15.8% from the July 15th total of 18,465,510 shares. Currently, 2.4% of the company’s shares are sold short. Based on an average daily volume of 6,229,905 shares, the short-interest ratio is presently 3.4 days.
Walgreen Company (NYSE:WAG) last issued its quarterly earnings data on Tuesday, June 24th. The company reported $0.91 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.94 by $0.03. The company had revenue of $19.40 billion for the quarter, compared to the consensus estimate of $19.33 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts predict that Walgreen Company will post $3.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, August 19th. This is a boost from Walgreen Company’s previous quarterly dividend of $0.32.
A number of other analysts have also recently weighed in on WAG. Analysts at BB&T Corp. cut their price target on shares of Walgreen Company from $80.00 to $65.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Separately, analysts at Cowen and Company reiterated a “market perform” rating on shares of Walgreen Company in a research note on Thursday, August 7th. They now have a $62.00 price target on the stock, down previously from $74.00. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Walgreen Company in a research note on Thursday, August 7th. They now have a $69.00 price target on the stock, down previously from $87.00. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. Walgreen Company currently has a consensus rating of “Hold” and a consensus target price of $73.14.
In other Walgreen Company news, CEO Gregory D. Wasson unloaded 24,279 shares of Walgreen Company stock on the open market in a transaction dated Thursday, August 7th. The stock was sold at an average price of $60.06, for a total value of $1,458,196.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Walgreen Co (NYSE:WAG), together with its subsidiaries, operates as a retail drugstore chain in the United States.
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