AmerisourceBergen (NYSE:ABC) Posts Earnings Results, Beats Estimates By $0.03 EPS

AmerisourceBergen (NYSE:ABC) issued its quarterly earnings data on Thursday. The company reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.03, Briefing.com reports. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The company had revenue of $45.64 billion during the quarter, compared to the consensus estimate of $45.15 billion. During the same period last year, the company earned $1.45 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. AmerisourceBergen updated its FY20 guidance to $7.30-7.60 EPS.

NYSE ABC traded up $1.99 during trading hours on Friday, hitting $86.07. 976,127 shares of the company’s stock were exchanged, compared to its average volume of 1,377,801. The stock has a 50-day simple moving average of $84.48 and a 200 day simple moving average of $83.73. AmerisourceBergen has a 1-year low of $69.36 and a 1-year high of $94.75. The firm has a market cap of $18.10 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 1.44 and a beta of 0.98. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.60 annualized dividend and a yield of 1.86%. AmerisourceBergen’s dividend payout ratio is currently 24.65%.

In related news, EVP John G. Chou sold 13,997 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $81.48, for a total transaction of $1,140,475.56. Following the completion of the sale, the executive vice president now owns 65,782 shares of the company’s stock, valued at $5,359,917.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven H. Collis sold 19,905 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $86.08, for a total value of $1,713,422.40. Following the sale, the chief executive officer now directly owns 154,484 shares of the company’s stock, valued at approximately $13,297,982.72. The disclosure for this sale can be found here. Insiders have sold 95,509 shares of company stock valued at $8,088,531 in the last ninety days. 27.80% of the stock is currently owned by insiders.

A number of equities analysts have recently issued reports on the company. ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lowered their price objective on AmerisourceBergen from $95.00 to $91.00 and set a “neutral” rating for the company in a research report on Friday. Deutsche Bank assumed coverage on AmerisourceBergen in a research report on Thursday, September 12th. They set a “hold” rating and a $91.00 price objective for the company. Morgan Stanley lowered their price objective on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a research report on Friday, September 6th. Finally, TheStreet cut AmerisourceBergen from a “b” rating to a “c+” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $87.78.

About AmerisourceBergen

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 for AmerisourceBergen (NYSE:ABC)

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