Zacks: Analysts Anticipate AmerisourceBergen (ABC) Will Post Earnings of $1.83 Per Share

Analysts expect AmerisourceBergen (NYSE:ABC) to post $1.83 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for AmerisourceBergen’s earnings, with estimates ranging from $1.74 to $1.99. AmerisourceBergen posted earnings of $1.77 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The firm is expected to announce its next earnings results before the market opens on Wednesday, May 2nd.

On average, analysts expect that AmerisourceBergen will report full year earnings of $6.54 per share for the current fiscal year, with EPS estimates ranging from $6.39 to $6.64. For the next fiscal year, analysts forecast that the firm will report earnings of $7.31 per share, with EPS estimates ranging from $7.11 to $7.47. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for AmerisourceBergen.

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AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.20. The company had revenue of $40.47 billion for the quarter, compared to analysts’ expectations of $40.42 billion. AmerisourceBergen had a net margin of 0.66% and a return on equity of 53.65%. AmerisourceBergen’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 EPS.

ABC has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Thursday, February 8th. Leerink Swann set a $105.00 price target on shares of AmerisourceBergen and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Bank of America initiated coverage on shares of AmerisourceBergen in a research note on Tuesday, February 27th. They issued a “buy” rating and a $111.00 price target on the stock. Argus upped their price target on shares of AmerisourceBergen from $93.96 to $115.00 and gave the stock a “buy” rating in a research note on Monday, March 5th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $112.00 price target (up previously from $105.00) on shares of AmerisourceBergen in a research note on Wednesday, February 7th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $102.72.

In other news, Director Richard W. Gochnauer sold 2,278 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $101.13, for a total transaction of $230,374.14. Following the completion of the sale, the director now owns 13,225 shares of the company’s stock, valued at approximately $1,337,444.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven H. Collis sold 21,350 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $98.58, for a total transaction of $2,104,683.00. Following the sale, the chairman now directly owns 287,925 shares of the company’s stock, valued at approximately $28,383,646.50. The disclosure for this sale can be found here. Insiders have sold a total of 155,809 shares of company stock worth $14,536,032 in the last 90 days. Company insiders own 27.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hikari Tsushin Inc. purchased a new stake in shares of AmerisourceBergen during the 4th quarter valued at about $106,000. Delpha Capital Management LLC purchased a new stake in shares of AmerisourceBergen during the 4th quarter valued at about $137,000. Vantage Investment Advisors LLC purchased a new stake in shares of AmerisourceBergen during the 4th quarter valued at about $156,000. TRUE Private Wealth Advisors purchased a new stake in shares of AmerisourceBergen during the 4th quarter valued at about $203,000. Finally, IBM Retirement Fund purchased a new stake in shares of AmerisourceBergen during the 4th quarter valued at about $216,000. 66.88% of the stock is owned by hedge funds and other institutional investors.

AmerisourceBergen stock traded down $1.06 during mid-day trading on Thursday, reaching $91.69. The stock had a trading volume of 1,070,127 shares, compared to its average volume of 2,009,458. The stock has a market cap of $19,998.67, a price-to-earnings ratio of 15.59, a PEG ratio of 1.37 and a beta of 1.06. AmerisourceBergen has a one year low of $71.90 and a one year high of $106.27. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.95 and a quick ratio of 0.50.

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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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