Walgreens Boots Alliance (NASDAQ:WBA) Releases FY24 Earnings Guidance

Walgreens Boots Alliance (NASDAQ:WBA) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.80-$2.95 for the period, compared to the consensus estimate of $3.20. Walgreens Boots Alliance also updated its FY 2024 guidance to 2.800-2.950 EPS.

Walgreens Boots Alliance Trading Down 0.8 %

NASDAQ:WBA opened at $12.10 on Friday. Walgreens Boots Alliance has a 52-week low of $11.68 and a 52-week high of $31.32. The stock has a fifty day moving average of $16.49 and a 200 day moving average of $20.19. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.65 and a quick ratio of 0.32.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings data on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.04). Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The business had revenue of $36.40 billion for the quarter, compared to the consensus estimate of $35.94 billion. During the same period in the prior year, the business posted $1.00 EPS. Walgreens Boots Alliance’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities analysts forecast that Walgreens Boots Alliance will post 2.88 EPS for the current fiscal year.

Walgreens Boots Alliance Dividend Announcement

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

Analyst Upgrades and Downgrades

WBA has been the subject of several research analyst reports. Bank of America reaffirmed an underperform rating and set a $11.00 price target (down previously from $22.00) on shares of Walgreens Boots Alliance in a research note on Friday. TD Cowen dropped their price target on Walgreens Boots Alliance from $37.00 to $35.00 and set a buy rating for the company in a research note on Wednesday, April 3rd. UBS Group dropped their price target on Walgreens Boots Alliance from $22.00 to $17.00 and set a neutral rating for the company in a research note on Monday, June 24th. SVB Leerink decreased their price objective on 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. Finally, Truist Financial decreased their price objective on Walgreens Boots Alliance from $20.00 to $13.00 and set a hold rating on the stock in a report on Friday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $20.64.

Insider Activity at Walgreens Boots Alliance

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

Walgreens Boots Alliance Company Profile

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.