Brokerages expect AmerisourceBergen Corp. (NYSE:ABC) to announce $1.37 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for AmerisourceBergen Corp.’s earnings, with the highest EPS estimate coming in at $1.41 and the lowest estimate coming in at $1.32. AmerisourceBergen Corp. also posted earnings of $1.37 per share in the same quarter last year. The business is scheduled to issue its next earnings results on Tuesday, August 1st.
According to Zacks, analysts expect that AmerisourceBergen Corp. will report full-year earnings of $5.87 per share for the current fiscal year, with EPS estimates ranging from $5.84 to $5.90. For the next fiscal year, analysts forecast that the company will report earnings of $6.37 per share, with EPS estimates ranging from $6.11 to $6.52. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow AmerisourceBergen Corp..
AmerisourceBergen Corp. (NYSE:ABC) last posted its quarterly earnings results on Thursday, May 4th. The company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.68 by $0.09. AmerisourceBergen Corp. had a net margin of 0.91% and a return on equity of 62.44%. The business earned $37.15 billion during the quarter, compared to analyst estimates of $38.07 billion. During the same quarter in the previous year, the business posted $1.68 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Several research firms have recently commented on ABC. Vetr lowered shares of AmerisourceBergen Corp. from a “buy” rating to a “hold” rating and set a $94.25 price objective for the company. in a research note on Wednesday, February 8th. Zacks Investment Research lowered shares of AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, February 21st. Credit Suisse Group AG reissued a “buy” rating on shares of AmerisourceBergen Corp. in a research note on Sunday, February 5th. Needham & Company LLC began coverage on shares of AmerisourceBergen Corp. in a research note on Tuesday, April 4th. They issued a “buy” rating and a $99.00 price objective for the company. Finally, Morgan Stanley raised shares of AmerisourceBergen Corp. from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 31st. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $93.92.
In other AmerisourceBergen Corp. news, Chairman Steven H. Collis sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $88.35, for a total transaction of $1,325,250.00. Following the sale, the chairman now owns 253,876 shares of the company’s stock, valued at $22,429,944.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gina Clark sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $89.03, for a total transaction of $1,068,360.00. Following the sale, the insider now directly owns 12,103 shares in the company, valued at approximately $1,077,530.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,958 shares of company stock worth $4,537,753. 27.40% of the stock is owned by corporate insiders. Hedge funds have recently added to or reduced their stakes in the company. Vulcan Value Partners LLC boosted its stake in AmerisourceBergen Corp. by 251.4% in the fourth quarter. Vulcan Value Partners LLC now owns 5,440,860 shares of the company’s stock worth $425,421,000 after buying an additional 3,892,674 shares during the last quarter. Norges Bank bought a new stake in AmerisourceBergen Corp. during the fourth quarter worth $147,775,000. Beutel Goodman & Co Ltd. bought a new stake in AmerisourceBergen Corp. during the first quarter worth $100,455,000. OMERS ADMINISTRATION Corp boosted its stake in AmerisourceBergen Corp. by 1,745.6% in the third quarter. OMERS ADMINISTRATION Corp now owns 1,214,380 shares of the company’s stock worth $98,098,000 after buying an additional 1,148,580 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in AmerisourceBergen Corp. by 1,873.3% in the fourth quarter. Franklin Resources Inc. now owns 1,148,539 shares of the company’s stock worth $89,804,000 after buying an additional 1,090,336 shares during the last quarter. 69.11% of the stock is currently owned by institutional investors.
About AmerisourceBergen Corp. 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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