Walgreen Company Given Consensus Recommendation of “Hold” by Analysts (NYSE:WAG)
Shares of Walgreen Company (NYSE:WAG) have earned an average rating of “Hold” from the twenty-six ratings firms that are presently covering the company, Analyst Ratings.Net reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $73.14.
Walgreen Company (NYSE:WAG) opened at 62.45 on Friday. Walgreen Company has a one year low of $46.75 and a one year high of $76.39. The stock’s 50-day moving average is $69.89 and its 200-day moving average is $67.98. The company has a market cap of $59.737 billion and a price-to-earnings ratio of 21.25. Walgreen Company also was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 21,387,669 shares, a growth of 15.8% from the July 15th total of 18,465,510 shares. Based on an average trading volume of 6,229,905 shares, the days-to-cover ratio is presently 3.4 days. Currently, 2.4% of the company’s stock are sold short.
Walgreen Company (NYSE:WAG) last announced its earnings results 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. Analysts expect that Walgreen Company will post $3.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Thursday, August 21st will be paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, August 19th. This is an increase from Walgreen Company’s previous quarterly dividend of $0.32.
A number of analysts have recently weighed in on WAG shares. Analysts at Deutsche Bank cut their price target on shares of Walgreen Company to $69.00 in a research note on Tuesday. Separately, 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. Finally, 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.
In other Walgreen Company news, SVP Mia M. Scholz sold 81,015 shares of Walgreen Company stock on the open market in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $61.93, for a total value of $5,017,258.95. The sale was disclosed in a document filed with the SEC, 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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