Walgreens Boots Alliance (NASDAQ:WBA) Releases FY24 Earnings Guidance

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.20-3.35 for the period, compared to the consensus earnings per share estimate of $3.24. Walgreens Boots Alliance also updated 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 stock has a fifty day simple moving average of $21.71 and a two-hundred day simple moving average of $22.27. The company has a quick ratio of 0.30, a current ratio of 0.66 and a debt-to-equity ratio of 0.50. Walgreens Boots Alliance has a 52-week low of $19.68 and a 52-week high of $36.58.

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) last released its quarterly earnings data on Thursday, March 28th. The pharmacy operator reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.38. The firm had revenue of $37.05 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Walgreens Boots Alliance had a negative net margin of 4.18% and a positive return on equity of 12.11%. Walgreens Boots Alliance’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $1.16 earnings per share. Analysts predict that Walgreens Boots Alliance will post 3.25 EPS for the current year.

Walgreens Boots Alliance Cuts Dividend

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

Analyst Ratings Changes

A number of research firms have commented on WBA. Raymond James restated a market perform rating on shares of Walgreens Boots Alliance in a research report on Tuesday, March 26th. Leerink Partnrs reaffirmed a market perform rating on shares of Walgreens Boots Alliance in a research report on Monday, February 26th. Bank of America dropped their price target on shares of 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. TheStreet raised shares of Walgreens Boots Alliance from a d+ rating to a c- rating in a research report on Monday, January 8th. Finally, HSBC reissued a reduce rating and issued a $20.00 target price (down previously from $27.00) on shares of Walgreens Boots Alliance in a research report on Tuesday, February 20th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $25.00.

Read Our Latest Stock Analysis on Walgreens Boots Alliance

Insider Activity at Walgreens Boots Alliance

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. grew its position in shares of Walgreens Boots Alliance by 104.6% during the first quarter. Vontobel Holding Ltd. now owns 36,922 shares of the pharmacy operator’s stock worth $1,752,000 after acquiring an additional 18,879 shares during the last quarter. Moors & Cabot Inc. increased its stake in Walgreens Boots Alliance by 31.1% in the first quarter. Moors & Cabot Inc. now owns 20,791 shares of the pharmacy operator’s stock valued at $931,000 after purchasing an additional 4,931 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Walgreens Boots Alliance by 27.9% in the first quarter. Sequoia Financial Advisors LLC now owns 7,569 shares of the pharmacy operator’s stock valued at $339,000 after buying an additional 1,651 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of Walgreens Boots Alliance by 0.5% during the first quarter. Candriam Luxembourg S.C.A. now owns 63,483 shares of the pharmacy operator’s stock worth $2,842,000 after buying an additional 310 shares during the period. Finally, Baird Financial Group Inc. increased its stake in Walgreens Boots Alliance by 14.2% in the 1st quarter. Baird Financial Group Inc. now owns 467,533 shares of the pharmacy operator’s stock valued at $20,932,000 after buying an additional 58,184 shares during the period. Hedge funds and other institutional investors own 58.59% of the company’s stock.

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.

See Also

Earnings History and Estimates for Walgreens Boots Alliance (NASDAQ:WBA)

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