Walgreen's (WAG) Third Quarter Earnings Preview
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Shares of Walgreen's (NYSE: WAG) are trading slightly lower today, ahead of the company's third quarter earnings release, expected before the market opens tomorrow, June 22, 2010. Shares are down 0.05% to $30.08.
WAG is expected to report an EPS of $0.57 on revs of $17.14 billion. Last quarter, WAG had an EPS of $0.70 and revs of $16.99 billion, both missing street views. Last year, the company had an EPS of $0.58 and revs of $15 billion, both missing Street views.
Shares declined through the quarter, falling 9.2% to end at $32.04 on May 28. The stock saw a high of $37.95 on April 5, 2010, and a low of $31.78 on May 28, 2010. The stock is down 18.6% YTD.
Data from Bloomberg shows that 15 analysts have a Buy rating on the stock, 8 have a Hold, and 1 suggests to Sell. The analyst price target average is $38.96, with a high of $46, and a low of $27.
News Through the Quarter
Walgreen's reported a 2.3% increase in comps for March, 5.9% increase for April, and 0.2% decrease in comps for May 2010.
Walgreen and CVS/Caremark also had a little tussle in early June, but that shouldn't factor into their third quarter earnings report.
Analyst Ratings Through the Quarter
In March, Caris & Co. started with an Above Average rating and $40 price target.
In May, Lazard Capital initiates coverage on Walgreen (NYSE: WAG) with a Buy rating, and $42 price target.
Scotia Capital initiates coverage with a Sector Outperform rating, and price target of $42.50.
Credit Suisse downgraded the stock from Outperform to Neutral. The analyst also lowered his price target on Walgreen from $42 to $36.
Summary
Analysts may be looking mostly at sales and plans for how the integration of Duane Reade, which closed through the quarter, will play out.
Walgreen Co. is expected to release their Q310 earnings on Tuesday, June 22, 2010, at approximately 8:00am EDT. Stay tuned to StreetInsider.com's Earnings section to see our analysis of the highly-anticipated quarterly results within seconds of their release.
WAG is expected to report an EPS of $0.57 on revs of $17.14 billion. Last quarter, WAG had an EPS of $0.70 and revs of $16.99 billion, both missing street views. Last year, the company had an EPS of $0.58 and revs of $15 billion, both missing Street views.
Shares declined through the quarter, falling 9.2% to end at $32.04 on May 28. The stock saw a high of $37.95 on April 5, 2010, and a low of $31.78 on May 28, 2010. The stock is down 18.6% YTD.
Data from Bloomberg shows that 15 analysts have a Buy rating on the stock, 8 have a Hold, and 1 suggests to Sell. The analyst price target average is $38.96, with a high of $46, and a low of $27.
News Through the Quarter
Walgreen's reported a 2.3% increase in comps for March, 5.9% increase for April, and 0.2% decrease in comps for May 2010.
Walgreen and CVS/Caremark also had a little tussle in early June, but that shouldn't factor into their third quarter earnings report.
Analyst Ratings Through the Quarter
In March, Caris & Co. started with an Above Average rating and $40 price target.
In May, Lazard Capital initiates coverage on Walgreen (NYSE: WAG) with a Buy rating, and $42 price target.
Scotia Capital initiates coverage with a Sector Outperform rating, and price target of $42.50.
Credit Suisse downgraded the stock from Outperform to Neutral. The analyst also lowered his price target on Walgreen from $42 to $36.
Summary
Analysts may be looking mostly at sales and plans for how the integration of Duane Reade, which closed through the quarter, will play out.
Walgreen Co. is expected to release their Q310 earnings on Tuesday, June 22, 2010, at approximately 8:00am EDT. Stay tuned to StreetInsider.com's Earnings section to see our analysis of the highly-anticipated quarterly results within seconds of their release.
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