Walgreens Boots Alliance (
WBA Quick Quote WBA - Free Report) closed at $31.93 in the latest trading session, marking a +1.27% move from the prior day. This move outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq lost 4.19%.
Coming into today, shares of the largest U.S. drugstore chain had gained 0.29% in the past month. In that same time, the Retail-Wholesale sector gained 4.7%, while the S&P 500 gained 3.78%.
Wall Street will be looking for positivity from Walgreens Boots Alliance as it approaches its next earnings report date. This is expected to be June 27, 2023. On that day, Walgreens Boots Alliance is projected to report earnings of $1.09 per share, which would represent year-over-year growth of 13.54%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.84 billion, up 3.83% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.49 per share and revenue of $136.18 billion. These totals would mark changes of -10.91% and +2.62%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Walgreens Boots Alliance. These revisions help to show the ever-changing nature of 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.25% lower. Walgreens Boots Alliance is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Walgreens Boots Alliance is holding a Forward P/E ratio of 7.03. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 7.03.
Meanwhile, WBA's PEG ratio is currently 2.32. 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. The Retail - Pharmacies and Drug Stores was holding an average PEG ratio of 1.8 at yesterday's closing price.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 220, which puts it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.