AmerisourceBergen Corp. (NYSE:ABC) announced a quarterly dividend on Wednesday, May 8th, RTT News reports. Shareholders of record on Monday, May 20th will be paid a dividend of 0.40 per share on Monday, June 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, May 17th.
AmerisourceBergen has raised its dividend by an average of 8.4% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. AmerisourceBergen has a dividend payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect AmerisourceBergen to earn $7.34 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 21.8%.
Shares of AmerisourceBergen stock opened at $76.69 on Thursday. The company has a market cap of $16.36 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 1.47 and a beta of 1.07. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.95 and a quick ratio of 0.56. AmerisourceBergen has a 12-month low of $69.36 and a 12-month high of $94.88.
AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, May 2nd. The company reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.15. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $43.44 billion. AmerisourceBergen had a return on equity of 46.24% and a net margin of 0.53%. The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.94 earnings per share. As a group, equities analysts predict that AmerisourceBergen will post 6.81 EPS for the current fiscal year.
A number of equities research analysts have issued reports on ABC shares. Bank of America cut AmerisourceBergen from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $95.00 to $76.00 in a research report on Wednesday, April 10th. UBS Group started coverage on AmerisourceBergen in a research report on Thursday, January 17th. They set a “buy” rating and a $89.00 target price for the company. Wolfe Research started coverage on AmerisourceBergen in a research report on Tuesday, April 2nd. They set a “market perform” rating for the company. ValuEngine raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. Finally, Zacks Investment Research cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $86.38.
In other news, EVP Dale Danilewitz sold 543 shares of the stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $86.30, for a total value of $46,860.90. Following the completion of the sale, the executive vice president now directly owns 2,714 shares of the company’s stock, valued at $234,218.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven H. Collis sold 21,344 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $83.62, for a total value of $1,784,785.28. Following the completion of the sale, the chief executive officer now directly owns 155,923 shares of the company’s stock, valued at $13,038,281.26. The disclosure for this sale can be found here. Over the last three months, insiders bought 2,018 shares of company stock valued at $156,471 and sold 66,982 shares valued at $5,565,339. 27.80% of the stock is currently owned by corporate insiders.
AmerisourceBergen Company Profile
AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
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