Walgreens Boots Alliance (NASDAQ:WBA) Posts Quarterly Earnings Results

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) issued its quarterly earnings data on Thursday. The pharmacy operator reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.38, Briefing.com reports. The firm had revenue of $37.05 billion during the quarter, compared to analyst estimates of $35.86 billion. Walgreens Boots Alliance had a positive return on equity of 12.11% and a negative net margin of 4.18%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. Walgreens Boots Alliance updated its FY24 guidance to $3.20-3.35 EPS and its FY 2024 guidance to 3.200-3.350 EPS.

Walgreens Boots Alliance Price Performance

Shares of WBA opened at $21.69 on Friday. The company has a 50 day moving average of $21.71 and a two-hundred day moving average of $22.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.66. Walgreens Boots Alliance has a twelve month low of $19.68 and a twelve month high of $36.58.

Walgreens Boots Alliance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 16th. This represents a $1.00 annualized dividend and a dividend yield of 4.61%. Walgreens Boots Alliance’s dividend payout ratio (DPR) is presently -14.29%.

Insiders Place Their Bets

In other Walgreens Boots Alliance news, Director Valerie B. Jarrett acquired 4,456 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was purchased at an average price of $22.44 per share, for a total transaction of $99,992.64. Following the acquisition, the director now owns 4,456 shares in the company, valued at approximately $99,992.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Timothy C. Wentworth acquired 10,000 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were bought at an average price of $24.22 per share, for a total transaction of $242,200.00. Following the acquisition, the chief executive officer now owns 585,122 shares of the company’s stock, valued at approximately $14,171,654.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Valerie B. Jarrett acquired 4,456 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $22.44 per share, with a total value of $99,992.64. Following the completion of the purchase, the director now directly owns 4,456 shares in the company, valued at $99,992.64. The disclosure for this purchase can be found here. Corporate insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Walgreens Boots Alliance

Several hedge funds and other institutional investors have recently made changes to their positions in WBA. Milestone Investment Advisors LLC acquired a new stake in shares of Walgreens Boots Alliance in the first quarter worth $31,000. Penserra Capital Management LLC purchased a new stake in Walgreens Boots Alliance in the 4th quarter worth about $34,000. Groupama Asset Managment acquired a new stake in Walgreens Boots Alliance during the 4th quarter worth about $42,000. Financial Freedom LLC purchased a new position in Walgreens Boots Alliance during the 4th quarter valued at about $46,000. Finally, Compass Wealth Management LLC acquired a new position in shares of Walgreens Boots Alliance in the 4th quarter valued at about $47,000. 58.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WBA has been the topic of several recent analyst reports. HSBC reaffirmed a “reduce” rating and issued a $20.00 price target (down previously from $27.00) on shares of Walgreens Boots Alliance in a research note on Tuesday, February 20th. Barclays started coverage on Walgreens Boots Alliance in a report on Wednesday, January 3rd. They issued an “underweight” rating and a $21.00 price target for the company. Bank of America decreased their target price on Walgreens Boots Alliance from $23.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday, March 26th. Leerink Partnrs restated a “market perform” rating on shares of Walgreens Boots Alliance in a research note on Monday, February 26th. Finally, SVB Leerink lowered their price objective on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Monday, March 18th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.00.

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Walgreens Boots Alliance Company Profile

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Walgreens Boots Alliance, Inc operates as a healthcare, pharmacy, and retail company in the United States, the United Kingdom, Germany, and internationally. It operates through three segments: U.S. Retail Pharmacy, International, and U.S. Healthcare. The U.S. Retail Pharmacy segment engages in operation of the retail drugstores, health and wellness services, specialty, and home delivery pharmacy services, which offers health and wellness, beauty, personal care and consumables, and general merchandise.

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Earnings History for Walgreens Boots Alliance (NASDAQ:WBA)

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