AmerisourceBergen closed the most recent trading day at $153.44, moving -1.67% from the previous trading session. This change lagged the S&P 500's 1.65% loss on the day. Meanwhile, the Dow lost 1.63%, and the Nasdaq, a tech-heavy index, lost 6.65%.
Coming into today, shares of the prescription drug distributor had lost 2.98% in the past month. In that same time, the Medical sector lost 1.27%, while the S&P 500 gained 0.3%.
Wall Street will be looking for positivity from AmerisourceBergen as it approaches its next earnings report date. In that report, analysts expect AmerisourceBergen to post earnings of $3.27 per share. This would mark year-over-year growth of 1.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $60.81 billion, up 5.35% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.61 per share and revenue of $251.6 billion. These totals would mark changes of +5.26% and +5.45%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for AmerisourceBergen. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.16% lower. AmerisourceBergen is currently a Zacks Rank #3 (Hold).
Digging into valuation, AmerisourceBergen currently has a Forward P/E ratio of 13.44. This represents a discount compared to its industry's average Forward P/E of 19.95.
Also, we should mention that ABC has a PEG ratio of 1.54. 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. ABC's industry had an average PEG ratio of 2.06 as of yesterday's close.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% 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.