WBA
Walgreens Boots Alliance, Inc. (NASDAQ: WBA) is gearing up to share its earnings for the second quarter before the stock market opens on March 28, 2024. The company, based in Deerfield, Illinois, is expected to report a decrease in earnings per share compared to last year. Analysts predict lower numbers amidst legal challenges and adjustments in analyst ratings.
Walgreens is anticipated to unveil earnings of 82 cents per share for the quarter, a drop from the previous year's $1.16 per share. Despite the expected dip in earnings, the company's revenue projection stands at a robust $35.86 billion. Recently, Walgreens found itself in a legal tangle, facing a nearly $1 billion payout to telemedicine provider PWNHealth over a contract disagreement, stirring the pot in its financial landscape.
The company's stock responded positively, ticking up 2.5% to $21.02 on Wednesday, reflecting investor reactions to the various developments. Meanwhile, financial analysts from prominent firms have offered their take on Walgreens' performance and future outlook. Ratings ranged from "Underweight" to "Hold," with adjustments in price targets reflecting a cautious optimism or concern regarding the company's trajectory.
Here's a quick look at the analysts' ratings and their predictions:
| Analyst Firm | Analyst | Rating | New Price Target | Previous Price Target | Accuracy |
|---|---|---|---|---|---|
| Morgan Stanley | Erin Wright | Underweight | $21 | $22 | 77% |
| RBC Capital | Ben Hendrix | Sector Perform | $26 | $29 | 68% |
| Truist Securities | David Macdonald | Hold | $25 | $30 | 73% |
| Mizuho | Ann Hynes | Neutral | $25 | $31 | 76% |
| Deutsche Bank | George Hill | Hold | $27 | $34 | 60% |
