Walgreens Boots Alliance (NASDAQ:WBA) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Walgreens Boots Alliance (NASDAQ:WBA) issued its quarterly earnings results on Thursday. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05), Briefing.com reports. The business had revenue of $36.40 billion during the quarter, compared to analysts’ expectations of $35.94 billion. Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 EPS. Walgreens Boots Alliance updated its FY 2024 guidance to 2.800-2.950 EPS and its FY24 guidance to $2.80-$2.95 EPS.

Walgreens Boots Alliance Stock Down 0.8 %

Shares of WBA traded down $0.09 during midday trading on Friday, hitting $12.10. The stock had a trading volume of 54,346,456 shares, compared to its average volume of 17,649,060. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.65 and a quick ratio of 0.32. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of -1.79, a price-to-earnings-growth ratio of 0.84 and a beta of 0.78. Walgreens Boots Alliance has a twelve month low of $11.68 and a twelve month high of $31.32. The company has a 50 day simple moving average of $16.49 and a two-hundred day simple moving average of $20.14.

Walgreens Boots Alliance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.00 annualized dividend and a yield of 8.27%. Walgreens Boots Alliance’s dividend payout ratio is presently -14.84%.

Analyst Ratings Changes

A number of research firms have weighed in on WBA. Truist Financial decreased their target price on shares of Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft reduced their price target on Walgreens Boots Alliance from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, April 3rd. Evercore ISI reduced their price objective on shares of Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating for the company in a research report on Friday. Raymond James reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a report on Tuesday, March 26th. Finally, Barclays cut their target price on Walgreens Boots Alliance from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.64.

Insider Activity at Walgreens Boots Alliance

In other news, CFO Manmohan Mahajan acquired 6,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was bought at an average price of $19.38 per share, with a total value of $116,280.00. Following the transaction, the chief financial officer now directly owns 166,969 shares in the company, valued at approximately $3,235,859.22. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Manmohan Mahajan purchased 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were acquired at an average price of $19.38 per share, for a total transaction of $116,280.00. Following the purchase, the chief financial officer now owns 166,969 shares in the company, valued at $3,235,859.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Inderpal S. Bhandari acquired 3,000 shares of Walgreens Boots Alliance stock in a transaction dated Thursday, April 11th. The shares were purchased at an average price of $18.05 per share, with a total value of $54,150.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $54,150. The disclosure for this purchase can be found here. 17.40% of the stock is owned by insiders.

About Walgreens Boots Alliance

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.