Zacks: Analysts Expect AmerisourceBergen (ABC) Will Announce Earnings of $1.85 Per Share

Analysts expect AmerisourceBergen (NYSE:ABC) to post earnings per share (EPS) of $1.85 for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for AmerisourceBergen’s earnings, with estimates ranging from $1.74 to $2.00. AmerisourceBergen reported earnings per share of $1.77 during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.5%. The company is expected to issue its next quarterly earnings report before the market opens on Wednesday, May 2nd.

According to Zacks, analysts expect that AmerisourceBergen will report full year earnings of $6.54 per share for the current financial year, with EPS estimates ranging from $6.39 to $6.64. For the next financial year, analysts expect that the business will post earnings of $7.31 per share, with EPS estimates ranging from $7.11 to $7.47. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover AmerisourceBergen.

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AmerisourceBergen (NYSE:ABC) last posted its earnings results on Tuesday, February 6th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. AmerisourceBergen had a return on equity of 53.65% and a net margin of 0.66%. The company had revenue of $40.47 billion for the quarter, compared to the consensus estimate of $40.42 billion. During the same quarter in the prior year, the company earned $1.36 earnings per share. AmerisourceBergen’s revenue was up 6.0% on a year-over-year basis.

A number of research firms have weighed in on ABC. Zacks Investment Research downgraded AmerisourceBergen from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Needham & Company LLC lowered their target price on AmerisourceBergen from $117.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Barclays lowered their target price on AmerisourceBergen from $104.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 27th. Jefferies Group set a $95.00 target price on AmerisourceBergen and gave the company a “hold” rating in a report on Wednesday, February 7th. Finally, Leerink Swann set a $105.00 target price on AmerisourceBergen and gave the company a “buy” rating in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $102.72.

In related news, EVP Dale Danilewitz sold 3,121 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $97.74, for a total transaction of $305,046.54. Following the completion of the sale, the executive vice president now owns 3,121 shares in the company, valued at $305,046.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of the stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $85.60, for a total value of $992,960.00. Following the sale, the chief financial officer now owns 56,472 shares of the company’s stock, valued at approximately $4,834,003.20. The disclosure for this sale can be found here. Insiders have sold 154,809 shares of company stock valued at $14,446,032 in the last quarter. 27.30% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. grew its position in shares of AmerisourceBergen by 9.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,580 shares of the company’s stock worth $512,000 after purchasing an additional 500 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in AmerisourceBergen by 8.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,298 shares of the company’s stock valued at $579,000 after buying an additional 507 shares during the last quarter. Bray Capital Advisors boosted its stake in AmerisourceBergen by 2.5% during the fourth quarter. Bray Capital Advisors now owns 21,890 shares of the company’s stock valued at $2,010,000 after buying an additional 525 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in AmerisourceBergen by 2.2% during the fourth quarter. Meadow Creek Investment Management LLC now owns 27,216 shares of the company’s stock valued at $2,499,000 after buying an additional 576 shares during the last quarter. Finally, Ridgewood Investments LLC boosted its stake in AmerisourceBergen by 16.7% during the fourth quarter. Ridgewood Investments LLC now owns 4,093 shares of the company’s stock valued at $376,000 after buying an additional 586 shares during the last quarter. Hedge funds and other institutional investors own 66.88% of the company’s stock.

ABC stock traded up $2.18 during trading on Thursday, reaching $90.95. The stock had a trading volume of 1,009,161 shares, compared to its average volume of 2,006,456. AmerisourceBergen has a 52 week low of $71.90 and a 52 week high of $106.27. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.50 and a current ratio of 0.95. The company has a market cap of $19,071.66, a price-to-earnings ratio of 15.42, a P/E/G ratio of 1.31 and a beta of 1.06.

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About AmerisourceBergen

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.

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Earnings History and Estimates for AmerisourceBergen (NYSE:ABC)

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