Leerink Swann Weighs in on AmerisourceBergen Corp.’s Q1 2019 Earnings (ABC)

AmerisourceBergen Corp. (NYSE:ABC) – Research analysts at Leerink Swann dropped their Q1 2019 earnings estimates for shares of AmerisourceBergen in a research report issued on Tuesday, November 6th. Leerink Swann analyst D. Larsen now anticipates that the company will earn $1.53 per share for the quarter, down from their previous estimate of $1.65. Leerink Swann also issued estimates for AmerisourceBergen’s Q2 2019 earnings at $2.07 EPS, Q4 2019 earnings at $1.55 EPS, FY2019 earnings at $6.80 EPS and FY2020 earnings at $7.30 EPS.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. AmerisourceBergen had a net margin of 0.99% and a return on equity of 45.54%. The company had revenue of $43.30 billion for the quarter, compared to analyst estimates of $43.27 billion. During the same period last year, the firm earned $1.33 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada set a $90.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Wednesday. ValuEngine upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Mizuho restated a “hold” rating and set a $90.00 price objective on shares of AmerisourceBergen in a report on Sunday, August 12th. Robert W. Baird restated a “hold” rating and set a $89.00 price objective on shares of AmerisourceBergen in a report on Friday, August 3rd. Finally, Zacks Investment Research downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $101.07.

NYSE ABC opened at $88.86 on Thursday. AmerisourceBergen has a 52-week low of $74.05 and a 52-week high of $106.27. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.93 and a quick ratio of 0.51. The stock has a market cap of $18.72 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.29 and a beta of 0.97.

Large investors have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. grew its stake in AmerisourceBergen by 140.9% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,142 shares of the company’s stock valued at $105,000 after acquiring an additional 668 shares in the last quarter. Financial Gravity Wealth Inc. grew its stake in AmerisourceBergen by 93.2% during the third quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock valued at $108,000 after acquiring an additional 605 shares in the last quarter. First Mercantile Trust Co. purchased a new position in AmerisourceBergen during the second quarter valued at approximately $107,000. Truvestments Capital LLC purchased a new position in AmerisourceBergen during the third quarter valued at approximately $120,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in AmerisourceBergen during the third quarter valued at approximately $130,000. 66.19% of the stock is owned by institutional investors.

In other news, Chairman Steven H. Collis sold 21,350 shares of AmerisourceBergen stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $93.09, for a total value of $1,987,471.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kathy H. Gaddes sold 2,652 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $87.71, for a total transaction of $232,606.92. Following the transaction, the insider now directly owns 3,891 shares of the company’s stock, valued at approximately $341,279.61. The disclosure for this sale can be found here. Insiders sold 92,928 shares of company stock valued at $8,332,406 in the last quarter. Corporate insiders own 27.30% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be paid a $0.40 dividend. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.80%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 23.42%.

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 and Estimates for AmerisourceBergen (NYSE:ABC)

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