$40.42 Billion in Sales Expected for AmerisourceBergen Corp. (ABC) This Quarter
Wall Street analysts predict that AmerisourceBergen Corp. (NYSE:ABC) will report sales of $40.42 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for AmerisourceBergen’s earnings, with the lowest sales estimate coming in at $39.82 billion and the highest estimate coming in at $41.23 billion. AmerisourceBergen posted sales of $38.17 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The business is expected to announce its next quarterly earnings report on Tuesday, January 30th.
On average, analysts expect that AmerisourceBergen will report full year sales of $40.42 billion for the current fiscal year, with estimates ranging from $163.99 billion to $168.11 billion. For the next fiscal year, analysts anticipate that the company will post sales of $178.11 billion per share, with estimates ranging from $176.18 billion to $180.41 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow AmerisourceBergen.
AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.01. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The business had revenue of $39.12 billion for the quarter, compared to analyst estimates of $40.10 billion. During the same quarter last year, the firm earned $1.30 EPS. AmerisourceBergen’s revenue for the quarter was up 4.2% compared to the same quarter last year.
Shares of AmerisourceBergen (NYSE ABC) traded up $3.86 during trading on Friday, reaching $93.17. The company had a trading volume of 4,144,051 shares, compared to its average volume of 1,716,939. AmerisourceBergen has a 1-year low of $71.90 and a 1-year high of $97.85. The firm has a market cap of $20,318.70, a price-to-earnings ratio of 15.82, a PEG ratio of 1.61 and a beta of 1.00. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.91.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 4th. Investors of record on Monday, November 20th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, November 17th. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.63%. AmerisourceBergen’s payout ratio is presently 82.16%.
In related news, EVP Robert P. Mauch sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $90.00, for a total transaction of $270,000.00. Following the transaction, the executive vice president now directly owns 14,531 shares of the company’s stock, valued at approximately $1,307,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 21,350 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $76.94, for a total value of $1,642,669.00. Following the transaction, the chairman now directly owns 260,226 shares in the company, valued at $20,021,788.44. The disclosure for this sale can be found here. Insiders have sold a total of 191,207 shares of company stock worth $15,612,018 over the last three months. 27.40% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of ABC. Schwab Charles Investment Management Inc. boosted its stake in AmerisourceBergen by 1.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 598,831 shares of the company’s stock valued at $56,608,000 after purchasing an additional 6,096 shares during the period. Advisors Asset Management Inc. boosted its stake in AmerisourceBergen by 42.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 27,267 shares of the company’s stock valued at $2,578,000 after purchasing an additional 8,102 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in AmerisourceBergen by 11.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 85,983 shares of the company’s stock valued at $8,128,000 after purchasing an additional 8,912 shares during the period. State of Wisconsin Investment Board boosted its stake in AmerisourceBergen by 6.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 144,798 shares of the company’s stock valued at $13,688,000 after purchasing an additional 8,140 shares during the period. Finally, Alps Advisors Inc. boosted its stake in AmerisourceBergen by 21.9% in the 2nd quarter. Alps Advisors Inc. now owns 7,743 shares of the company’s stock valued at $732,000 after purchasing an additional 1,390 shares during the period. 67.94% of the stock is currently owned by institutional investors and hedge funds.
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AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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