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Walgreens Boots Alliance (WBA) Gains As Market Dips: What You Should Know
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Walgreens Boots Alliance (WBA - Free Report) closed the most recent trading day at $22.55, moving +0.58% from the previous trading session. This change outpaced the S&P 500's 1.37% loss on the day. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Coming into today, shares of the largest U.S. drugstore chain had lost 4.31% in the past month. In that same time, the Retail-Wholesale sector lost 5.77%, while the S&P 500 lost 4.93%.
Wall Street will be looking for positivity from Walgreens Boots Alliance as it approaches its next earnings report date. This is expected to be October 12, 2023. In that report, analysts expect Walgreens Boots Alliance to post earnings of $0.69 per share. This would mark a year-over-year decline of 13.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.55 billion, up 6.48% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Walgreens Boots Alliance. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.48% lower. Walgreens Boots Alliance is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Walgreens Boots Alliance currently has a Forward P/E ratio of 6. Its industry sports an average Forward P/E of 6, so we one might conclude that Walgreens Boots Alliance is trading at a no noticeable deviation comparatively.
Investors should also note that WBA has a PEG ratio of 1.2 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. WBA's industry had an average PEG ratio of 1.51 as of yesterday's close.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 194, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Walgreens Boots Alliance (WBA) Gains As Market Dips: What You Should Know
Walgreens Boots Alliance (WBA - Free Report) closed the most recent trading day at $22.55, moving +0.58% from the previous trading session. This change outpaced the S&P 500's 1.37% loss on the day. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Coming into today, shares of the largest U.S. drugstore chain had lost 4.31% in the past month. In that same time, the Retail-Wholesale sector lost 5.77%, while the S&P 500 lost 4.93%.
Wall Street will be looking for positivity from Walgreens Boots Alliance as it approaches its next earnings report date. This is expected to be October 12, 2023. In that report, analysts expect Walgreens Boots Alliance to post earnings of $0.69 per share. This would mark a year-over-year decline of 13.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.55 billion, up 6.48% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Walgreens Boots Alliance. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.48% lower. Walgreens Boots Alliance is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Walgreens Boots Alliance currently has a Forward P/E ratio of 6. Its industry sports an average Forward P/E of 6, so we one might conclude that Walgreens Boots Alliance is trading at a no noticeable deviation comparatively.
Investors should also note that WBA has a PEG ratio of 1.2 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. WBA's industry had an average PEG ratio of 1.51 as of yesterday's close.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 194, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.