Q3 2018 EPS Estimates for AmerisourceBergen Corp. (ABC) Raised by Jefferies Group

AmerisourceBergen Corp. (NYSE:ABC) – Research analysts at Jefferies Group raised their Q3 2018 earnings estimates for shares of AmerisourceBergen in a research report issued on Wednesday. Jefferies Group analyst B. Tanquilut now anticipates that the company will post earnings of $1.58 per share for the quarter, up from their previous forecast of $1.55. Jefferies Group has a “Hold” rating and a $95.00 price objective on the stock. Jefferies Group also issued estimates for AmerisourceBergen’s Q4 2018 earnings at $1.73 EPS.

A number of other analysts have also recently weighed in on ABC. Zacks Investment Research raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Needham & Company LLC set a $93.00 price objective on AmerisourceBergen and gave the company a “buy” rating in a research report on Tuesday, October 24th. Mizuho set a $92.00 price objective on AmerisourceBergen and gave the company a “hold” rating in a research report on Tuesday, October 24th. ValuEngine raised AmerisourceBergen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $96.00 price objective on shares of AmerisourceBergen in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $101.17.

AmerisourceBergen (ABC) traded down $2.99 during trading on Friday, reaching $88.56. The company’s stock had a trading volume of 712,828 shares, compared to its average volume of 1,766,689. AmerisourceBergen has a 52 week low of $71.90 and a 52 week high of $106.27. The company has a quick ratio of 0.48, a current ratio of 0.95 and a debt-to-equity ratio of 1.61. The firm has a market cap of $20,547.69, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.51 and a beta of 1.02.

AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.20. AmerisourceBergen had a return on equity of 53.65% and a net margin of 0.66%. The company had revenue of $40.47 billion during the quarter, compared to analysts’ expectations of $40.42 billion. During the same period last year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Tuesday, February 20th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Friday, February 16th. AmerisourceBergen’s payout ratio is currently 32.76%.

In other AmerisourceBergen news, SVP Lazarus Krikorian sold 16,427 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $84.86, for a total transaction of $1,393,995.22. Following the transaction, the senior vice president now owns 23,360 shares in the company, valued at $1,982,329.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Dale Danilewitz sold 1,857 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $74.69, for a total value of $138,699.33. The disclosure for this sale can be found here. Insiders sold 204,934 shares of company stock worth $18,427,430 in the last quarter. 27.30% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of ABC. Vantage Investment Advisors LLC acquired a new position in shares of AmerisourceBergen in the fourth quarter worth about $156,000. Intl Fcstone Inc. acquired a new position in shares of AmerisourceBergen during the second quarter worth approximately $201,000. TRUE Private Wealth Advisors acquired a new position in shares of AmerisourceBergen during the fourth quarter worth approximately $203,000. Zeke Capital Advisors LLC acquired a new position in shares of AmerisourceBergen during the third quarter worth approximately $210,000. Finally, IBM Retirement Fund acquired a new position in shares of AmerisourceBergen during the fourth quarter worth approximately $216,000. Institutional investors own 67.57% of the company’s stock.

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About AmerisourceBergen

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.

Earnings History and Estimates for AmerisourceBergen (NYSE:ABC)

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