Walgreens Boots Alliance (NASDAQ:WBA) Inc. continued its downward trend on Thursday, with its share price falling to $20.96, a sizeable drop from its previous 52-week high of $42.29. This decline mirrors the unfavorable market conditions impacting the broader market, as well as the company's specific challenges.
The S&P 500 and Dow Jones also experienced declines on Thursday, falling by 0.85% and 0.75% respectively. Walgreens' performance was notably weaker than its competitors in the market, a trend that has been consistent in recent months.
In comparison, Amazon.com Inc (NASDAQ:AMZN). saw its shares rise by 0.21%, while CVS Health Corp (NYSE:CVS).'s shares increased by 0.18%. McKesson Corp (NYSE:MCK)., another competitor, also experienced a decline, but it was less severe than that of Walgreens, with a drop of only 0.54%.
Walgreens' trading volume stood at 10.8 million on Thursday, significantly below its typical 50-day average volume, which according to InvestingPro Data, is typically around 11.77 million. This suggests that investors might be exercising caution in the face of the current market volatility.
InvestingPro Data shows that Walgreens has a market cap of 18.11B USD and a negative P/E Ratio of -5.95. The company's revenue for the last twelve months (LTM2023.Q4) stood at 139.08B USD, marking a growth of 4.81%. Despite the increasing revenue, the company's EBITDA growth for the same period was -23.0 %, indicating a decline in earnings before interest, taxes, depreciation, and amortization.
InvestingPro Tips reveals that Walgreens has a history of rewarding its shareholders. The company has raised its dividend for 47 consecutive years and pays a significant dividend to its shareholders. The dividend yield as of Y2023.D293 was 9.16%, a testament to the company's commitment to its shareholders.
The same source also indicates that the company has been facing some challenges. The stock has taken a significant hit over the last week, month, and three months, with a 1-week price total return of -9.85%, 1-month return of -4.03%, and a 3-month return of -29.44%. The company's stock is also trading near its 52-week low.
In these turbulent times, Walgreens' recent performance presents a stark contrast to its previous highs, indicating the impact of broader market trends on individual companies. As always, investors will be closely watching the market for signs of recovery or further declines. For those interested in more information like this, InvestingPro offers additional tips and real-time metrics to help make informed investment decisions.
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