$596.80 Million in Sales Expected for Pharmerica Corporation (PMC) This Quarter
Equities research analysts expect Pharmerica Corporation (NYSE:PMC) to post $596.80 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Pharmerica Corporation’s earnings, with the highest sales estimate coming in at $597.00 million and the lowest estimate coming in at $596.60 million. Pharmerica Corporation posted sales of $512.60 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.4%. The business is expected to report its next quarterly earnings report on Wednesday, November 8th.
On average, analysts expect that Pharmerica Corporation will report full-year sales of $596.80 million for the current year, with estimates ranging from $2.36 billion to $2.38 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.61 billion per share, with estimates ranging from $2.59 billion to $2.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Pharmerica Corporation.
Pharmerica Corporation (NYSE:PMC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. The company had revenue of $592 million during the quarter, compared to analyst estimates of $592.96 million. Pharmerica Corporation had a return on equity of 10.94% and a net margin of 1.05%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $0.47 earnings per share.
A number of equities research analysts have issued reports on the company. Barrington Research lowered Pharmerica Corporation from an “outperform” rating to an “underperform” rating in a research note on Wednesday, August 9th. KeyCorp downgraded shares of Pharmerica Corporation to an “overweight” rating in a report on Tuesday, August 8th. UBS AG reissued a “neutral” rating and set a $29.25 price objective (up previously from $26.00) on shares of Pharmerica Corporation in a report on Thursday, August 3rd. BidaskClub downgraded shares of Pharmerica Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Credit Suisse Group downgraded shares of Pharmerica Corporation from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $29.00 to $29.25 in a report on Friday, August 4th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $28.83.
Shares of Pharmerica Corporation (NYSE:PMC) opened at 29.25 on Monday. The company has a market cap of $910.29 million, a price-to-earnings ratio of 39.63 and a beta of 0.84. The company’s 50-day moving average price is $27.84 and its 200 day moving average price is $25.38. Pharmerica Corporation has a 1-year low of $19.20 and a 1-year high of $29.40.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its holdings in shares of Pharmerica Corporation by 124.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,886 shares of the company’s stock valued at $128,000 after purchasing an additional 2,710 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Pharmerica Corporation by 10.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,028 shares of the company’s stock valued at $132,000 after purchasing an additional 476 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Pharmerica Corporation during the 1st quarter valued at about $121,000. State of Alaska Department of Revenue boosted its holdings in shares of Pharmerica Corporation by 79.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,112 shares of the company’s stock valued at $160,000 after purchasing an additional 2,712 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Pharmerica Corporation by 41.3% during the 1st quarter. US Bancorp DE now owns 7,121 shares of the company’s stock valued at $167,000 after purchasing an additional 2,081 shares during the last quarter. 92.35% of the stock is owned by institutional investors and hedge funds.
About Pharmerica Corporation
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