Research Analysts Set Expectations for AmerisourceBergen Co.’s Q3 2022 Earnings (NYSE:ABC)

AmerisourceBergen Co. (NYSE:ABCGet Rating) – Investment analysts at Jefferies Financial Group decreased their Q3 2022 earnings estimates for shares of AmerisourceBergen in a report issued on Tuesday, May 31st. Jefferies Financial Group analyst B. Tanquilut now forecasts that the company will earn $2.57 per share for the quarter, down from their prior estimate of $2.62. Jefferies Financial Group also issued estimates for AmerisourceBergen’s Q4 2022 earnings at $2.59 EPS, FY2023 earnings at $11.60 EPS and FY2024 earnings at $12.50 EPS.

AmerisourceBergen (NYSE:ABCGet Rating) last released its earnings results on Wednesday, May 4th. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.23. The company had revenue of $57.72 billion during the quarter, compared to the consensus estimate of $57.26 billion. AmerisourceBergen had a return on equity of 349.46% and a net margin of 0.75%. AmerisourceBergen’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.53 EPS.

A number of other equities analysts have also recently commented on ABC. Robert W. Baird lifted their price target on AmerisourceBergen from $179.00 to $187.00 in a research note on Thursday, May 5th. Argus lifted their price target on AmerisourceBergen from $140.00 to $160.00 in a research note on Monday, March 14th. Mizuho lifted their price target on AmerisourceBergen from $139.00 to $162.00 in a research note on Thursday, May 5th. Deutsche Bank Aktiengesellschaft decreased their price target on AmerisourceBergen from $168.00 to $167.00 in a research note on Wednesday, May 25th. Finally, StockNews.com raised AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 6th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AmerisourceBergen presently has a consensus rating of “Buy” and an average target price of $168.29.

NYSE:ABC opened at $148.21 on Friday. The company has a debt-to-equity ratio of 5.13, a current ratio of 0.92 and a quick ratio of 0.56. The business has a 50 day moving average of $156.76 and a 200 day moving average of $142.05. The company has a market capitalization of $31.04 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.64 and a beta of 0.45. AmerisourceBergen has a 1-year low of $111.34 and a 1-year high of $167.19.

Institutional investors have recently added to or reduced their stakes in the business. Herold Advisors Inc. bought a new stake in AmerisourceBergen in the first quarter worth $31,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of AmerisourceBergen by 133.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 210 shares of the company’s stock valued at $32,000 after purchasing an additional 120 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of AmerisourceBergen by 1,078.9% during the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $35,000 after purchasing an additional 205 shares in the last quarter. KB Financial Partners LLC bought a new position in shares of AmerisourceBergen during the fourth quarter valued at $31,000. Finally, Gemmer Asset Management LLC bought a new position in shares of AmerisourceBergen during the fourth quarter valued at $33,000. 64.17% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Gina Clark sold 43,704 shares of the company’s stock in a transaction on Monday, March 28th. The stock was sold at an average price of $153.71, for a total value of $6,717,741.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven H. Collis sold 11,480 shares of the company’s stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $162.11, for a total value of $1,861,022.80. Following the completion of the sale, the chief executive officer now directly owns 205,178 shares in the company, valued at $33,261,405.58. The disclosure for this sale can be found here. Insiders have sold 6,078,379 shares of company stock worth $912,048,947 over the last three months. Insiders own 28.40% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Monday, May 16th were paid a dividend of $0.46 per share. The ex-dividend date was Friday, May 13th. This represents a $1.84 annualized dividend and a dividend yield of 1.24%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 22.44%.

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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