Wall Street analysts expect AmerisourceBergen (NYSE:ABC) to announce sales of $42.89 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for AmerisourceBergen’s earnings, with the lowest sales estimate coming in at $42.34 billion and the highest estimate coming in at $43.35 billion. AmerisourceBergen reported sales of $38.71 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 10.8%. The firm is scheduled to announce its next earnings results on Thursday, August 2nd.
On average, analysts expect that AmerisourceBergen will report full year sales of $167.94 billion for the current fiscal year, with estimates ranging from $166.20 billion to $168.79 billion. For the next financial year, analysts anticipate that the company will post sales of $179.60 billion per share, with estimates ranging from $175.81 billion to $181.66 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for AmerisourceBergen.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Wednesday, May 2nd. The company reported $1.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.13. The company had revenue of $41.03 billion for the quarter, compared to analyst estimates of $40.56 billion. AmerisourceBergen had a net margin of 0.57% and a return on equity of 51.04%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business earned $1.77 earnings per share.
Several analysts recently commented on ABC shares. Zacks Investment Research lowered shares of AmerisourceBergen from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Argus raised their price target on shares of AmerisourceBergen from $93.96 to $115.00 and gave the company a “buy” rating in a research report on Monday, March 5th. Bank of America initiated coverage on shares of AmerisourceBergen in a research report on Tuesday, February 27th. They set a “buy” rating and a $111.00 price target on the stock. Jefferies Group set a $95.00 price objective on shares of AmerisourceBergen and gave the company a “hold” rating in a report on Wednesday, February 7th. Finally, Barclays initiated coverage on shares of AmerisourceBergen in a report on Thursday, March 8th. They set an “equal weight” rating and a $104.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $103.07.
In other news, insider Robert P. Mauch sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $97.94, for a total value of $97,940.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $88.49, for a total transaction of $1,889,261.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,092 shares of company stock worth $10,136,544. Insiders own 27.30% of the company’s stock.
Several large investors have recently bought and sold shares of ABC. Vulcan Value Partners LLC lifted its stake in shares of AmerisourceBergen by 29.4% in the fourth quarter. Vulcan Value Partners LLC now owns 7,530,523 shares of the company’s stock worth $691,452,000 after buying an additional 1,710,816 shares in the last quarter. Millennium Management LLC lifted its stake in shares of AmerisourceBergen by 429.2% in the fourth quarter. Millennium Management LLC now owns 1,507,690 shares of the company’s stock worth $138,436,000 after buying an additional 1,222,806 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of AmerisourceBergen in the first quarter worth about $80,607,000. BlackRock Inc. lifted its stake in shares of AmerisourceBergen by 5.8% in the fourth quarter. BlackRock Inc. now owns 12,384,803 shares of the company’s stock worth $1,137,171,000 after buying an additional 679,417 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of AmerisourceBergen by 23.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,864,488 shares of the company’s stock worth $263,016,000 after buying an additional 550,215 shares in the last quarter. 65.95% of the stock is currently owned by hedge funds and other institutional investors.
ABC stock traded up $0.17 during midday trading on Friday, hitting $84.51. 1,058,271 shares of the stock traded hands, compared to its average volume of 1,894,686. The firm has a market cap of $18.63 billion, a PE ratio of 14.37, a P/E/G ratio of 1.28 and a beta of 1.04. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.48 and a current ratio of 0.94. AmerisourceBergen has a 1-year low of $71.90 and a 1-year high of $106.27.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 4th. Shareholders of record on Monday, May 21st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, May 18th. AmerisourceBergen’s payout ratio is 25.85%.
AmerisourceBergen Company Profile
AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
Get a free copy of the Zacks research report on AmerisourceBergen (ABC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.