AmerisourceBergen Corporation (Holding Co) (ABC) Releases FY18 Earnings Guidance
AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.90-6.15 for the period, compared to the Thomson Reuters consensus estimate of $6.08. The company issued revenue guidance of $163.86-166.93 billion, compared to the consensus revenue estimate of $165.40 billion.
Several analysts have issued reports on the stock. Zacks Investment Research raised shares of AmerisourceBergen Corporation (Holding Co) from a sell rating to a hold rating in a research report on Friday, August 4th. Leerink Swann set a $90.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) and gave the company a buy rating in a research report on Monday, August 7th. Needham & Company LLC set a $93.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) and gave the company a buy rating in a research report on Tuesday, October 24th. Royal Bank Of Canada assumed coverage on shares of AmerisourceBergen Corporation (Holding Co) in a research report on Tuesday, September 19th. They issued a sector perform rating and a $87.00 price objective for the company. Finally, Morgan Stanley downgraded shares of AmerisourceBergen Corporation (Holding Co) from an overweight rating to an equal weight rating in a research report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $91.13.
Shares of AmerisourceBergen Corporation (NYSE:ABC) traded down $1.82 on Friday, reaching $74.80. The company had a trading volume of 2,722,070 shares, compared to its average volume of 2,235,893. The stock has a market cap of $16.05 billion, a P/E ratio of 12.43 and a beta of 0.95.
AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. The company had revenue of $39.12 billion for the quarter, compared to analyst estimates of $40.10 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 55.99% and a net margin of 0.27%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.30 earnings per share. research analysts anticipate that AmerisourceBergen Corporation will post 6.02 EPS for the current year.
In related news, insider Dale Danilewitz sold 2,012 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $85.00, for a total transaction of $171,020.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 21,350 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $76.94, for a total value of $1,642,669.00. Following the transaction, the chairman now directly owns 260,226 shares in the company, valued at $20,021,788.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,078 shares of company stock worth $6,857,812. 27.40% of the stock is owned by corporate insiders.
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About AmerisourceBergen Corporation (Holding Co)
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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