$40.49 Billion in Sales Expected for AmerisourceBergen (ABC) This Quarter

Analysts forecast that AmerisourceBergen (NYSE:ABC) will report $40.49 billion in sales for the current quarter, according to Zacks. Seven analysts have made estimates for AmerisourceBergen’s earnings. The highest sales estimate is $41.32 billion and the lowest is $39.86 billion. AmerisourceBergen reported sales of $37.15 billion during the same quarter last year, which indicates a positive year over year growth rate of 9%. The business is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, May 2nd.

On average, analysts expect that AmerisourceBergen will report full year sales of $167.50 billion for the current year, with estimates ranging from $166.20 billion to $168.79 billion. For the next year, analysts expect that the business will post sales of $179.54 billion per share, with estimates ranging from $175.81 billion to $182.55 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow AmerisourceBergen.

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AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating 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 company had revenue of $40.47 billion during the quarter, compared to the consensus estimate of $40.42 billion. During the same quarter last year, the company earned $1.36 earnings per share. AmerisourceBergen’s revenue for the quarter was up 6.0% on a year-over-year basis.

ABC has been the subject of several recent research reports. Credit Suisse Group reaffirmed an “outperform” rating and issued a $112.00 price objective (up previously from $105.00) on shares of AmerisourceBergen in a research report on Wednesday, February 7th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. Mizuho set a $100.00 price objective on shares of AmerisourceBergen and gave the company a “hold” rating in a research report on Wednesday, January 24th. Cowen reaffirmed a “buy” rating and issued a $108.00 price objective on shares of AmerisourceBergen in a research report on Tuesday, February 27th. Finally, TheStreet raised shares of AmerisourceBergen from a “c” rating to a “b” rating in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. AmerisourceBergen currently has a consensus rating of “Buy” and an average target price of $102.72.

In related news, insider Dale Danilewitz sold 21,500 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $97.30, for a total transaction of $2,091,950.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $95.43, for a total value of $1,106,988.00. The disclosure for this sale can be found here. Insiders have sold 155,809 shares of company stock valued at $14,536,032 in the last three months. Corporate insiders own 27.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ABC. Hikari Tsushin Inc. bought a new position in AmerisourceBergen during the fourth quarter worth $106,000. Delpha Capital Management LLC bought a new position in AmerisourceBergen during the fourth quarter worth $137,000. Vantage Investment Advisors LLC bought a new position in AmerisourceBergen during the fourth quarter worth $156,000. TRUE Private Wealth Advisors bought a new position in AmerisourceBergen during the fourth quarter worth $203,000. Finally, IBM Retirement Fund bought a new position in AmerisourceBergen during the fourth quarter worth $216,000. Hedge funds and other institutional investors own 66.88% of the company’s stock.

NYSE:ABC traded down $1.82 during trading hours on Friday, hitting $89.87. The stock had a trading volume of 886,708 shares, compared to its average volume of 1,690,628. The company has a quick ratio of 0.50, a current ratio of 0.95 and a debt-to-equity ratio of 1.61. AmerisourceBergen has a 1-year low of $71.90 and a 1-year high of $106.27. The company has a market capitalization of $20,141.45, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.06.

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AmerisourceBergen Company Profile

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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