$39.25 Billion in Sales Expected for AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) This Quarter

Wall Street brokerages expect AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) to report $39.25 billion in sales for the current quarter, according to Zacks. Five analysts have provided estimates for AmerisourceBergen Corporation (Holding Co)’s earnings, with the lowest sales estimate coming in at $38.75 billion and the highest estimate coming in at $39.50 billion. AmerisourceBergen Corporation (Holding Co) posted sales of $36.88 billion during the same quarter last year, which suggests a positive year over year growth rate of 6.4%. The business is expected to report its next quarterly earnings report before the market opens on Thursday, August 3rd.

On average, analysts expect that AmerisourceBergen Corporation (Holding Co) will report full-year sales of $39.25 billion for the current year, with estimates ranging from $154.68 billion to $155.47 billion. For the next fiscal year, analysts expect that the firm will report sales of $169.06 billion per share, with estimates ranging from $167.12 billion to $172.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover AmerisourceBergen Corporation (Holding Co).

AmerisourceBergen Corporation (Holding Co) (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 Corporation (Holding Co) had a return on equity of 60.21% and a net margin of 0.77%. The company had revenue of $37.15 billion during the quarter, compared to analysts’ expectations of $38.07 billion. During the same quarter in the previous year, the business earned $1.68 EPS. The firm’s revenue was up 4.1% on a year-over-year basis.

Several research analysts have weighed in on ABC shares. Needham & Company LLC started coverage on AmerisourceBergen Corporation (Holding Co) in a research report on Tuesday, April 4th. They issued a “buy” rating and a $99.00 target price on the stock. Vetr lowered AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating and set a $90.84 target price on the stock. in a research report on Thursday, April 6th. Jefferies Group LLC started coverage on AmerisourceBergen Corporation (Holding Co) in a research report on Wednesday, May 17th. They issued a “hold” rating and a $95.00 target price on the stock. Mizuho upped their target price on AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 30th. Finally, BidaskClub raised AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $94.50.

Shares of AmerisourceBergen Corporation (ABC) traded down 0.22% during mid-day trading on Friday, hitting $91.17. The stock had a trading volume of 1,330,038 shares. AmerisourceBergen Corporation has a one year low of $68.38 and a one year high of $97.85. The company has a 50-day moving average of $93.53 and a 200 day moving average of $88.85. The firm has a market cap of $19.91 billion, a price-to-earnings ratio of 17.70 and a beta of 0.91.

TRADEMARK VIOLATION NOTICE: This article was first reported by [[site]] and is the property of of [[site]]. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at [[permalink]].

In related news, Chairman Steven H. Collis sold 15,000 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $81.98, for a total transaction of $1,229,700.00. Following the completion of the sale, the chairman now owns 253,876 shares in the company, valued at approximately $20,812,754.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 45,000 shares of company stock valued at $4,027,050. 27.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in ABC. Creative Planning increased its stake in shares of AmerisourceBergen Corporation (Holding Co) by 3.6% in the first quarter. Creative Planning now owns 19,042 shares of the company’s stock valued at $1,685,000 after buying an additional 658 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of AmerisourceBergen Corporation (Holding Co) by 4.2% in the first quarter. Raymond James Trust N.A. now owns 3,594 shares of the company’s stock valued at $318,000 after buying an additional 145 shares during the last quarter. Osborn Williams & Donohoe LLC increased its stake in shares of AmerisourceBergen Corporation (Holding Co) by 3.1% in the first quarter. Osborn Williams & Donohoe LLC now owns 9,016 shares of the company’s stock valued at $798,000 after buying an additional 271 shares during the last quarter. Hefty Wealth Partners acquired a new stake in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at $1,072,000. Finally, Boltwood Capital Management acquired a new stake in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at $662,000. Hedge funds and other institutional investors own 69.09% of the company’s stock.

AmerisourceBergen Corporation (Holding Co) Company Profile

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.

Get a free copy of the Zacks research report on AmerisourceBergen Corporation (Holding Co) (ABC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com