Walgreens Boots Alliance (NASDAQ:WBA) Updates FY 2024 Earnings Guidance

Walgreens Boots Alliance (NASDAQ:WBAGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.200-3.350 for the period, compared to the consensus estimate of 3.240. The company issued revenue guidance of -. Walgreens Boots Alliance also updated its FY24 guidance to $3.20-3.35 EPS.

Analyst Ratings Changes

WBA has been the topic of a number of analyst reports. Barclays initiated coverage on Walgreens Boots Alliance in a report on Wednesday, January 3rd. They set an underweight rating and a $21.00 target price on the stock. SVB Leerink decreased their price objective on Walgreens Boots Alliance from $23.00 to $22.00 and set a market perform rating on the stock in a research note on Monday, March 18th. Leerink Partnrs reissued a market perform rating on shares of Walgreens Boots Alliance in a research note on Monday, February 26th. HSBC reaffirmed a reduce rating and set a $20.00 price target (down from $27.00) on shares of Walgreens Boots Alliance in a research note on Tuesday, February 20th. Finally, Bank of America cut their price objective 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. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $25.00.

Check Out Our Latest Analysis on Walgreens Boots Alliance

Walgreens Boots Alliance Trading Up 3.2 %

NASDAQ:WBA opened at $21.69 on Friday. The firm’s 50 day moving average is $21.71 and its two-hundred day moving average is $22.27. Walgreens Boots Alliance has a fifty-two week low of $19.68 and a fifty-two week high of $36.58. 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 (NASDAQ:WBAGet Free Report) last issued its earnings results on Thursday, March 28th. The pharmacy operator reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.38. Walgreens Boots Alliance had a positive return on equity of 12.11% and a negative net margin of 4.18%. The business had revenue of $37.05 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same period last year, the company posted $1.16 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts predict that Walgreens Boots Alliance will post 3.25 earnings per share for the current fiscal year.

Walgreens Boots Alliance Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were given a dividend of $0.25 per share. 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 (DPR) is presently -14.29%.

Insider Buying and Selling at Walgreens Boots Alliance

In related news, CEO Timothy C. Wentworth bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were acquired at an average cost 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 in the company, valued at approximately $14,171,654.84. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Timothy C. Wentworth purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were purchased at an average price of $24.22 per share, with a total value of $242,200.00. Following the purchase, the chief executive officer now directly owns 585,122 shares of the company’s stock, valued at approximately $14,171,654.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Valerie B. Jarrett acquired 4,456 shares of the firm’s stock in a transaction 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 transaction, the director now owns 4,456 shares in the company, valued at $99,992.64. The disclosure for this purchase can be found here. 17.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Walgreens Boots Alliance

A number of institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in shares of Walgreens Boots Alliance by 2.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 971,897 shares of the pharmacy operator’s stock worth $25,378,000 after purchasing an additional 26,854 shares during the last quarter. Sanibel Captiva Trust Company Inc. bought a new position in Walgreens Boots Alliance during the 4th quarter worth approximately $723,000. Harbour Investments Inc. grew its position in shares of Walgreens Boots Alliance by 18.1% in the 4th quarter. Harbour Investments Inc. now owns 37,304 shares of the pharmacy operator’s stock worth $974,000 after acquiring an additional 5,709 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Walgreens Boots Alliance by 11.3% during the 4th quarter. Townsquare Capital LLC now owns 38,502 shares of the pharmacy operator’s stock valued at $1,005,000 after acquiring an additional 3,894 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Walgreens Boots Alliance by 10.7% in the fourth quarter. Legal & General Group Plc now owns 7,356,393 shares of the pharmacy operator’s stock worth $192,076,000 after purchasing an additional 710,807 shares during the period. 58.59% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading

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

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