Pivotal Research Group senior research analyst Ajay Jain is not surprised by this most recent change, nor by the number of stores renegotiated to preserve the deal.
Just yesterday Walgreens Boot Alliance (NASDAQ:WBA) traded 0.12% higher at $82.60. Walgreens said it was willing to divest as many as 1,200 stores to obtain regulatory approval. Curious investors will be awaiting N/A, the date when Walgreens Boots Alliance, Inc. Still, the store purchase plan should help widen Walgreens Boots' foothold in the USA, where it also competes with the likes of CVS Health Corp.
Shares of Array BioPharma Inc. State Street Corp raised its position in Walgreens Boots Alliance by 1.8% in the first quarter. The stock of Agios Pharmaceuticals Inc (NASDAQ:AGIO) has "Buy" rating given on Tuesday, August 1 by Oppenheimer. This is assuming the current $1.22 EPS is accurate. Institutional investors and hedge funds own 60.16% of the company's stock. (NASDAQ:WBA) dialed in an EPS of $N/A, creating a Surprise Factor of N/A% (the difference between analyst projections and actual numbers).
Previously on 8/25/2017, Loop Capital released a statement about Walgreens Boot Alliance (NASDAQ:WBA) increased the target price from $0.00 to $95.00. With the addition of the Rite Aid stores, Walgreens will have about 10,000 locations in the U.S. Wells Fargo & Co reiterated an outperform rating on shares of Walgreens Boots Alliance in a research note on Tuesday, January 31st. Tracking the stock price in relation to moving averages may provide enhanced perspective on stock performance. RB Capital Management LLC boosted its stake in shares of Walgreens Boots Alliance by 4.3% during the second quarter. Walgreens Boots Alliance has a consensus rating of Buy and an average price target of $91.56. The average stock price target is $93.59 with 6 brokerages rating the stock a strong buy, 10 brokerages rating the stock a buy, 10 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell.
COPYRIGHT VIOLATION NOTICE: This report was posted by Equities Focus and is the property of of Equities Focus. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of United States & global copyright laws. After a recent look, the stock has been seen trading $0.68 off of the 50-day moving average of $24.02 and $0.91 separated from the 200-day moving average of $23.79.
This stock (WBA) is ahead of its 52-week low with 9.87%. The company's market cap is $87.76 Billion. Walgreens Boots Alliance had a net margin of 3.52% and a return on equity of 16.76%. The firm had revenue of $30.12 billion during the quarter, compared to analysts' expectations of $29.72 billion. The company also noted that the acquisitions will not have a significant impact on the company's earnings for the fiscal year ending August 31, 2018, although it expects annual synergies to reach $300 million eventually.
After the purchases are completed, the stores will eventually be converted to the Walgreens brand. This buyback authorization permits the pharmacy operator to repurchase up to 5.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued. The stock's Dividend Yield stands at 1.94%. Walgreens Boots Alliance's payout ratio is 40.30%.
Walgreens Boots Alliance fell 2% in the stock market today, while Rite Aid sank 9%. The stock was sold at an average price of $79.79, for a total value of $218,305.44.