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- Walgreens Boots Alliance tops estimates but the stock is falling
- Home
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- Walgreens Boots Alliance tops estimates but the stock is falling
- Founded: 31/12/2014
- Headquarters: Deerfield, Illinois, United States
- Number of employees: 331,000 (2023)
- Industry: Retail, pharmaceuticals
- Key people: Stefano Pessina (Executive Chairman), Tim Wentworth (CEO)
- 1 month: +19.60%
- 3 months: +14.72%
- Year-to-date: -2.07%
- 1 year: -31.80%
- Barclays: $21
- HSBC: $27
- JP Morgan: $30
- Royal Bank of Canada: $26
- Evercore ISI: $21
- Truist Financial: $25
- Mizuho: $25
- Deutsche Bank: $27
- Credit Suisse: $30
- Morgan Stanley: $27
- UBS Group: $35
- Loop Capital
- Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
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News & AnalysisNews & AnalysisWalgreens Boots Alliance tops estimates but the stock is falling
5 January 2024 By Klavs ValtersWalgreens Boots Alliance Inc. (NASDAQ: WBA) released first quarter of fiscal 2024 financial results before the opening bell in Wall Street on Thursday.
The American healthcare, pharmacy, and retail company reported revenue of $36.707 billion for the quarter, which topped analyst estimate of $34.949 billion. Revenue was up by 10% from the same period a year prior.
Earnings per share reported at $0.66 (down by 43.1% year-over-year) vs. $0.616 per share expected.
Walgreens cut its dividend by 48% from the previous quarter to $0.25 per share.
Company overview
CEO commentary
Tim Wentworth commented on the latest results: “WBA delivered fiscal first quarter results in line with overall expectations, reflecting disciplined execution in a challenging consumer backdrop. We are evaluating all strategic options to drive sustainable long-term shareholder value, focusing on swift actions to right-size costs and increase cash flow, with a balanced approach to capital allocation priorities. Today we are announcing a 48 percent reduction in our quarterly dividend payment, while maintaining a competitive yield. We are proud to be a trusted and independent partner of choice, delivering healthcare to millions of people. And, we will leverage our local, convenient presence to engage with patients and help payors, providers, and pharma companies also achieve better health outcomes at an affordable cost.”
Stock reaction
The stock was down by over 6% on Thursday after the latest results, trading at $23.84 a share – the lowest level since 12/12/2023.
Stock performance
Walgreens Boots Alliance stock price targets
Walgreens Boots Alliance Inc.is the 882nd largest company in the world with a market cap of $22.04 billion.
You can trade Walgreens Boots Alliance Inc. (NASDAQ: WBA) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD.
GO Markets now offers pre-market and after-market trading on popular US Share CFDs.
Trade the pre-market session: 4:00am to 9:30am, normal session, and after-market session: 4:00pm to 8:00pm, Eastern Standard Time. Excludes Fridays; please see specifications section on platform for further details.
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Sources: Walgreens Boots Alliance Inc., TradingView, MarketWatch, Benzinga, CompaniesMarketCap
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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
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