The pharma-firm has been on quite the journey in 2018. Opening at $73.89, a long first-half decline left it (briefly) trading below $60 in late June and early July, a price it hadn’t seen for just shy of 4 years.
Yet it has been on quite the rally since those summer months, climbing all the way back to a 21 month peak of $86.91 by 6th December. Like everywhere else, however, it has had a wobble as the month has progressed, with Walgreens Boots Alliance Inc (NASDAQ:WBA) now at a current trading price of $75.48.
The company’s last update was its fourth quarter results in October. Though on the day the reaction was negative, it didn’t interrupt the stock’s autumnal surge. That’s because, while revenue missed estimates despite rising 11% to $33.44 billion – analysts were looking for $33.78 billion – it beat on adjusted earnings, which soared 13% to $1.48 per share against the $1.45 forecast.
As for Walgreens’ first quarter figures, analysts are expecting another 11% increase in revenue, to $33.64 billion, alongside a healthy 10% jump in earnings to $1.44 per share. That latter number is towards the upper end of the 7% to 12% estimated adjusted EPS growth guidance given for the full year back in October. Any revisions to that guidance could be key in terms of the reaction on Thursday.
Walgreens Boots Alliance Inc(NASDAQ:WBA) has a consensus rating of ‘Hold’ alongside an average target price of $78.12.
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