Analysts Offer Predictions for AmerisourceBergen Corp.’s Q1 2019 Earnings (ABC)
AmerisourceBergen Corp. (NYSE:ABC) – Analysts at Leerink Swann lowered their Q1 2019 earnings estimates for AmerisourceBergen in a research note issued on Tuesday, November 6th. Leerink Swann analyst D. Larsen now forecasts that the company will post earnings of $1.53 per share for the quarter, down from their previous forecast of $1.65. Leerink Swann also issued estimates for AmerisourceBergen’s Q2 2019 earnings at $2.07 EPS, Q4 2019 earnings at $1.55 EPS, FY2019 earnings at $6.80 EPS and FY2020 earnings at $7.30 EPS.
A number of other brokerages have also recently weighed in on ABC. ValuEngine upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Royal Bank of Canada set a $90.00 price objective on AmerisourceBergen and gave the stock a “hold” rating in a report on Wednesday. Mizuho reissued a “hold” rating and issued a $90.00 price objective on shares of AmerisourceBergen in a report on Sunday, August 12th. Robert W. Baird reissued a “neutral” rating and issued a $94.00 price objective on shares of AmerisourceBergen in a report on Friday, July 20th. Finally, Zacks Investment Research lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. AmerisourceBergen presently has an average rating of “Hold” and a consensus price target of $101.07.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. The business had revenue of $43.30 billion for the quarter, compared to analysts’ expectations of $43.27 billion. AmerisourceBergen had a return on equity of 45.54% and a net margin of 0.99%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.80%. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 16th. AmerisourceBergen’s dividend payout ratio is 23.42%.
In other AmerisourceBergen news, EVP Kathy H. Gaddes sold 2,652 shares of the stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $92.96, for a total transaction of $246,529.92. Following the completion of the transaction, the executive vice president now directly owns 3,891 shares of the company’s stock, valued at approximately $361,707.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Steven H. Collis sold 21,350 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $88.33, for a total value of $1,885,845.50. Following the transaction, the chief executive officer now directly owns 287,925 shares of the company’s stock, valued at $25,432,415.25. The disclosure for this sale can be found here. Insiders sold a total of 92,928 shares of company stock valued at $8,332,406 over the last three months. Corporate insiders own 27.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in AmerisourceBergen by 4.3% during the 3rd quarter. BlackRock Inc. now owns 13,324,749 shares of the company’s stock valued at $1,228,809,000 after purchasing an additional 548,296 shares in the last quarter. Vulcan Value Partners LLC boosted its stake in AmerisourceBergen by 1.7% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,988,485 shares of the company’s stock valued at $425,368,000 after purchasing an additional 82,224 shares in the last quarter. FMR LLC boosted its stake in AmerisourceBergen by 7.4% during the 3rd quarter. FMR LLC now owns 4,789,787 shares of the company’s stock valued at $441,714,000 after purchasing an additional 329,771 shares in the last quarter. Burgundy Asset Management Ltd. boosted its stake in AmerisourceBergen by 1.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,742,554 shares of the company’s stock valued at $233,858,000 after purchasing an additional 26,297 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its stake in AmerisourceBergen by 26.2% during the 3rd quarter. Ceredex Value Advisors LLC now owns 2,438,272 shares of the company’s stock valued at $224,857,000 after purchasing an additional 506,702 shares in the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.
AmerisourceBergen Company Profile
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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