AmerisourceBergen Corp. to Post Q3 2018 Earnings of $1.49 Per Share, Leerink Swann Forecasts (ABC)
AmerisourceBergen Corp. (NYSE:ABC) – Analysts at Leerink Swann increased their Q3 2018 earnings per share (EPS) estimates for AmerisourceBergen in a research note issued on Tuesday. Leerink Swann analyst D. Larsen now forecasts that the company will earn $1.49 per share for the quarter, up from their prior estimate of $1.48. Leerink Swann currently has a “Buy” rating and a $105.00 target price on the stock.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Tuesday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.20. AmerisourceBergen had a net margin of 0.66% and a return on equity of 53.65%. The business had revenue of $40.47 billion during the quarter, compared to analysts’ expectations of $40.42 billion. During the same period in the previous year, the company earned $1.36 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis.
Shares of AmerisourceBergen (NYSE ABC) opened at $89.19 on Friday. AmerisourceBergen has a 1 year low of $71.90 and a 1 year high of $106.27. The firm has a market cap of $20,110.70, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.46 and a beta of 1.02. The company has a quick ratio of 0.48, a current ratio of 0.95 and a debt-to-equity ratio of 1.61.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 5th. Shareholders of record on Tuesday, February 20th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.52 dividend on an annualized basis and a yield of 1.70%. AmerisourceBergen’s dividend payout ratio is presently 32.76%.
In other AmerisourceBergen news, Chairman Steven H. Collis sold 21,350 shares of AmerisourceBergen stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $98.58, for a total value of $2,104,683.00. Following the transaction, the chairman now directly owns 287,925 shares in the company, valued at $28,383,646.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Lazarus Krikorian sold 16,427 shares of AmerisourceBergen stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $84.86, for a total transaction of $1,393,995.22. Following the completion of the transaction, the senior vice president now owns 23,360 shares in the company, valued at $1,982,329.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 204,934 shares of company stock worth $18,427,430. 27.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ABC. Vantage Investment Advisors LLC acquired a new position in AmerisourceBergen in the fourth quarter valued at $156,000. Intl Fcstone Inc. acquired a new position in AmerisourceBergen in the second quarter valued at $201,000. TRUE Private Wealth Advisors acquired a new position in AmerisourceBergen in the fourth quarter valued at $203,000. Zeke Capital Advisors LLC acquired a new position in AmerisourceBergen in the third quarter valued at $210,000. Finally, IBM Retirement Fund acquired a new position in AmerisourceBergen in the fourth quarter valued at $216,000. Institutional investors own 67.57% of the company’s stock.
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AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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