AmerisourceBergen Corp. (NYSE:ABC) Expected to Announce Quarterly Sales of $45.31 Billion

Wall Street brokerages 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 during the same quarter last year, which indicates 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 fiscal year, with estimates ranging from $179.12 billion to $179.84 billion. For the next year, analysts expect that the company will post sales of $188.22 billion, with estimates ranging from $186.59 billion to $189.51 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover AmerisourceBergen.

AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, August 1st. The company reported $1.76 EPS for the quarter, topping the 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 company had revenue of $45.24 billion during the quarter, compared to analysts’ expectations of $45.15 billion. During the same period last year, the company posted $1.54 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis.

Several analysts recently commented on ABC shares. Morgan Stanley decreased their price target on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, September 6th. ValuEngine cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Zacks Investment Research upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Wednesday, June 12th. Argus decreased their price target on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Finally, Deutsche Bank started coverage on shares of AmerisourceBergen in a report on Thursday. They set a “hold” rating and a $91.00 price target for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $87.38.

In related news, Chairman Steven H. Collis sold 107,826 shares of the firm’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $86.18, for a total transaction of $9,292,444.68. Following the transaction, the chairman now owns 242,405 shares of the company’s stock, valued at $20,890,462.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Steven H. Collis sold 19,905 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.58, for a total transaction of $1,783,089.90. Following the transaction, the chief executive officer now directly owns 154,484 shares in the company, valued at approximately $13,838,676.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 186,215 shares of company stock worth $16,240,235. Insiders own 27.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Alpha Windward LLC boosted its stake in AmerisourceBergen by 6.6% during the second quarter. Alpha Windward LLC now owns 1,845 shares of the company’s stock worth $161,000 after buying an additional 114 shares in the last quarter. Capital Wealth Planning LLC boosted its stake in shares of AmerisourceBergen by 1.1% in the 2nd quarter. Capital Wealth Planning LLC now owns 10,236 shares of the company’s stock valued at $873,000 after purchasing an additional 115 shares in the last quarter. Pathstone Family Office LLC boosted its stake in shares of AmerisourceBergen by 67.7% in the 2nd quarter. Pathstone Family Office LLC now owns 312 shares of the company’s stock valued at $27,000 after purchasing an additional 126 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of AmerisourceBergen by 1.1% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,424 shares of the company’s stock valued at $988,000 after purchasing an additional 138 shares in the last quarter. Finally, Rothschild Investment Corp IL boosted its stake in shares of AmerisourceBergen by 1.1% in the 2nd quarter. Rothschild Investment Corp IL now owns 12,345 shares of the company’s stock valued at $1,053,000 after purchasing an additional 140 shares in the last quarter. 66.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ABC stock traded down $1.22 during trading on Friday, hitting $83.42. 1,262,190 shares of the company were exchanged, compared to its average volume of 1,413,177. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.95. The firm has a market capitalization of $18.05 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.54 and a beta of 1.00. The business’s 50-day simple moving average is $86.15 and its 200 day simple moving average is $81.99. AmerisourceBergen has a twelve month low of $69.36 and a twelve month high of $94.85.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Friday, August 16th. AmerisourceBergen’s payout ratio is presently 24.65%.

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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Earnings History and Estimates for AmerisourceBergen (NYSE:ABC)

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