Walgreens Boots Alliance (NASDAQ:WBA) Updates 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 guidance of $2.80-$2.95 for the period, compared to the consensus earnings per share estimate of $3.20. Walgreens Boots Alliance also updated its FY 2024 guidance to 2.800-2.950 EPS.

Walgreens Boots Alliance Stock Performance

WBA stock opened at $12.10 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.32 and a current ratio of 0.65. Walgreens Boots Alliance has a twelve month low of $11.68 and a twelve month high of $31.32. The business has a fifty day moving average of $16.49 and a 200-day moving average of $20.17.

Walgreens Boots Alliance (NASDAQ:WBA) last released its earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.04). The business had revenue of $36.40 billion for the quarter, compared to analyst estimates of $35.94 billion. Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 earnings per share. As a group, equities research analysts predict that Walgreens Boots Alliance will post 2.94 earnings per share for the current fiscal year.

Walgreens Boots Alliance Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on WBA. Deutsche Bank Aktiengesellschaft dropped their price objective on Walgreens Boots Alliance from $23.00 to $22.00 and set a hold rating for the company in a report on Wednesday, April 3rd. Bank of America reissued an underperform rating and set a $11.00 price objective (down previously from $22.00) on shares of Walgreens Boots Alliance in a research note on Friday. TD Cowen lowered their target price on shares of 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. Morgan Stanley reduced their price target on shares of Walgreens Boots Alliance from $13.00 to $9.00 and set an underweight rating on the stock in a research report on Friday. Finally, Evercore ISI lowered their price objective on shares of Walgreens Boots Alliance from $17.00 to $10.00 and set an in-line rating for the company in a research report on Friday. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $20.64.

Insiders Place Their Bets

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

About Walgreens Boots Alliance

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.