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

Walgreens Boots Alliance (NASDAQ:WBA) issued its quarterly earnings data on Thursday. The pharmacy operator reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.38, Briefing.com reports. Walgreens Boots Alliance had a negative net margin of 4.18% and a positive return on equity of 12.11%. The company had revenue of $37.05 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same period last year, the firm posted $1.16 EPS. Walgreens Boots Alliance’s revenue for the quarter was up 6.3% on a year-over-year basis. 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

WBA traded up $0.67 during trading on Friday, hitting $21.69. 32,886,762 shares of the company’s stock were exchanged, compared to its average volume of 10,444,230. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.66 and a quick ratio of 0.30. Walgreens Boots Alliance has a 1 year low of $19.68 and a 1 year high of $36.58. The stock has a 50 day moving average price of $21.71 and a 200 day moving average price of $22.27.

Walgreens Boots Alliance Cuts Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on WBA shares. SVB Leerink lowered their target price on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Monday, March 18th. Raymond James reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a report on Tuesday. HSBC reaffirmed a “reduce” rating and issued a $20.00 target price (down previously from $27.00) on shares of Walgreens Boots Alliance in a report on Tuesday, February 20th. Bank of America lowered their target price on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set an “underperform” rating on the stock in a report on Tuesday. Finally, Morgan Stanley lowered their target price on shares of Walgreens Boots Alliance from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Tuesday. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Insider Activity

In related news, Director Valerie B. Jarrett purchased 4,456 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average cost of $22.44 per share, with a total value of $99,992.64. Following the completion of the acquisition, the director now directly owns 4,456 shares of the company’s stock, valued at approximately $99,992.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Valerie B. Jarrett bought 4,456 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 4,456 shares of the company’s stock, valued at approximately $99,992.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy C. Wentworth bought 10,000 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was purchased at an average price of $24.22 per share, with a total value of $242,200.00. Following the completion of the acquisition, the chief executive officer now owns 585,122 shares of the company’s stock, valued at $14,171,654.84. The disclosure for this purchase can be found here. 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 added to or reduced their stakes in WBA. Milestone Investment Advisors LLC bought a new position in shares of Walgreens Boots Alliance in the first quarter valued at about $31,000. Penserra Capital Management LLC bought a new stake in Walgreens Boots Alliance during the 4th quarter worth about $34,000. Groupama Asset Managment acquired a new position in shares of Walgreens Boots Alliance during the 4th quarter worth about $42,000. Financial Freedom LLC acquired a new position in shares of Walgreens Boots Alliance during the 4th quarter worth about $46,000. Finally, Compass Wealth Management LLC acquired a new position in shares of Walgreens Boots Alliance during the 4th quarter worth about $47,000. Institutional investors and hedge funds own 58.59% of the company’s stock.

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.