Zacks: Brokerages Expect AmerisourceBergen Co. (NYSE:ABC) Will Post Quarterly Sales of $58.82 Billion

Wall Street analysts expect AmerisourceBergen Co. (NYSE:ABCGet Rating) to post sales of $58.82 billion for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for AmerisourceBergen’s earnings, with estimates ranging from $57.67 billion to $59.37 billion. AmerisourceBergen posted sales of $53.41 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.1%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that AmerisourceBergen will report full year sales of $236.89 billion for the current financial year, with estimates ranging from $234.82 billion to $237.89 billion. For the next year, analysts expect that the firm will report sales of $248.64 billion, with estimates ranging from $246.34 billion to $250.11 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow AmerisourceBergen.

AmerisourceBergen (NYSE:ABCGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.23. AmerisourceBergen had a return on equity of 349.46% and a net margin of 0.75%. The business had revenue of $57.72 billion for the quarter, compared to analysts’ expectations of $57.26 billion. During the same period last year, the business earned $2.53 EPS. The business’s revenue was up 17.4% on a year-over-year basis.

ABC has been the subject of several research analyst reports. Mizuho raised their target price on AmerisourceBergen from $139.00 to $162.00 in a research report on Thursday, May 5th. Barclays raised AmerisourceBergen from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $175.00 to $182.00 in a research report on Thursday. Morgan Stanley lowered AmerisourceBergen from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $142.00 to $178.00 in a research report on Tuesday, April 12th. Argus raised their target price on AmerisourceBergen from $140.00 to $160.00 in a research report on Monday, March 14th. Finally, StockNews.com raised AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 6th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AmerisourceBergen presently has a consensus rating of “Buy” and an average target price of $168.71.

Shares of NYSE:ABC opened at $155.80 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.56 and a debt-to-equity ratio of 5.13. The stock’s fifty day simple moving average is $156.56 and its two-hundred day simple moving average is $141.13. AmerisourceBergen has a 1-year low of $111.34 and a 1-year high of $167.19. The stock has a market cap of $32.63 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 1.63 and a beta of 0.45.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Monday, May 16th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, May 13th. AmerisourceBergen’s dividend payout ratio (DPR) is currently 22.44%.

In other AmerisourceBergen news, CEO Steven H. Collis sold 11,480 shares of AmerisourceBergen stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $162.11, for a total transaction of $1,861,022.80. Following the completion of the transaction, the chief executive officer now owns 205,178 shares of the company’s stock, valued at approximately $33,261,405.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 6,000,000 shares of AmerisourceBergen stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $150.00, for a total value of $900,000,000.00. Following the transaction, the insider now directly owns 52,854,867 shares of the company’s stock, valued at approximately $7,928,230,050. The disclosure for this sale can be found here. Insiders have sold a total of 6,078,379 shares of company stock valued at $912,048,947 in the last ninety days. Insiders own 28.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Herold Advisors Inc. bought a new stake in shares of AmerisourceBergen during the 1st quarter valued at about $31,000. KB Financial Partners LLC bought a new stake in shares of AmerisourceBergen during the 4th quarter valued at about $31,000. Massmutual Trust Co. FSB ADV boosted its position in shares of AmerisourceBergen by 133.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 210 shares of the company’s stock valued at $32,000 after acquiring an additional 120 shares during the last quarter. Gemmer Asset Management LLC bought a new stake in shares of AmerisourceBergen during the 4th quarter valued at about $33,000. Finally, Cassady Schiller Wealth Management LLC bought a new stake in shares of AmerisourceBergen during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 64.17% of the company’s stock.

About AmerisourceBergen (Get Rating)

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, 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 alternate site pharmacies, and other customers.

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