Walgreens Stock Fell 8% This Week: What Happened?

Walgreens Boots Alliance Inc WBA shares continue to trade lower Friday after the company on Thursday reported financial results and reaffirmed soft guidance for low-single digit earnings growth. 

Walgreens said fiscal second-quarter revenue increased 3% year-over-year to $33.8 billion, which beat the $33.36 billion estimate. The company reported quarterly earnings of $1.59 per share, which beat the estimate of $1.38 per share.

Walgreens maintained its previously-issued earnings guidance, expecting low-single digit growth in fiscal-year 2022. 

Analyst Assessment: Multiple analysts lowered price targets on the stock following Walgreens' results.

• RBC Capital analyst Ben Hendrix maintained Walgreens with a Sector Perform rating and lowered the price target from $52 to $46.
• Barclays analyst Steve Valiquette maintained Walgreens with an Equal-Weight rating and lowered the price target from $54 to $50.
• Truist Securities analyst David Macdonald maintained Walgreens with a Hold rating and lowered the price target from $58 to $50.

Related Link: Benzinga's Top Ratings Upgrades, Downgrades For April 1, 2022

WBA 52-Week Range: $43.62 - $57.05

The stock was down 2.47% at $43.68 at time of publication.

Photo: courtesy of Walgreens.