$45.31 Billion in Sales Expected for AmerisourceBergen Corp. (NYSE:ABC) This Quarter
Wall Street analysts expect AmerisourceBergen Corp. (NYSE:ABC) to post $45.31 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for AmerisourceBergen’s earnings, with the lowest sales estimate coming in at $45.17 billion and the highest estimate coming in at $45.46 billion. AmerisourceBergen reported sales of $43.30 billion in the same quarter last year, which would indicate a positive year over year growth rate of 4.6%. The firm is expected to report its next earnings results on Tuesday, November 5th.
According to Zacks, analysts expect that AmerisourceBergen will report full year sales of $179.38 billion for the current year, with estimates ranging from $179.12 billion to $179.84 billion. For the next fiscal year, analysts forecast that the firm will post sales of $188.22 billion, with estimates ranging from $186.59 billion to $189.51 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for AmerisourceBergen.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.14. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The firm had revenue of $45.24 billion during the quarter, compared to the consensus estimate of $45.15 billion. During the same period last year, the business posted $1.54 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year.
Shares of NYSE ABC traded up $1.91 during trading hours on Friday, reaching $87.79. 983,236 shares of the stock were exchanged, compared to its average volume of 1,415,700. The firm has a market capitalization of $18.29 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 1.56 and a beta of 1.00. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.95. AmerisourceBergen has a 52 week low of $69.36 and a 52 week high of $94.85. The stock’s fifty day simple moving average is $86.16 and its 200 day simple moving average is $81.99.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.82%. AmerisourceBergen’s payout ratio is currently 24.65%.
In other AmerisourceBergen news, insider John G. Chou sold 13,997 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.58, for a total transaction of $1,253,851.26. Following the transaction, the insider now directly owns 65,782 shares in the company, valued at approximately $5,892,751.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Wadsworth Mcgee III sold 10,585 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $91.97, for a total transaction of $973,502.45. Following the sale, the director now directly owns 24,510 shares of the company’s stock, valued at approximately $2,254,184.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,215 shares of company stock valued at $16,240,235. Corporate insiders own 27.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. BB&T Securities LLC lifted its holdings in shares of AmerisourceBergen by 5.6% in the second quarter. BB&T Securities LLC now owns 399,505 shares of the company’s stock valued at $34,061,000 after purchasing an additional 21,043 shares in the last quarter. HL Financial Services LLC raised its position in shares of AmerisourceBergen by 6.3% during the 1st quarter. HL Financial Services LLC now owns 5,561 shares of the company’s stock valued at $442,000 after buying an additional 328 shares in the last quarter. Cambridge Financial Group Inc. raised its position in shares of AmerisourceBergen by 3.0% during the 2nd quarter. Cambridge Financial Group Inc. now owns 71,412 shares of the company’s stock valued at $6,089,000 after buying an additional 2,085 shares in the last quarter. Ceredex Value Advisors LLC lifted its holdings in shares of AmerisourceBergen by 23.9% during the 1st quarter. Ceredex Value Advisors LLC now owns 2,135,142 shares of the company’s stock worth $169,787,000 after acquiring an additional 411,607 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of AmerisourceBergen by 60.2% during the 1st quarter. Nordea Investment Management AB now owns 75,977 shares of the company’s stock worth $6,041,000 after acquiring an additional 28,552 shares during the last quarter. Institutional investors own 66.10% of the company’s stock.
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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