Walgreens Likely To Report Lower Q1 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Walgreens Boots Alliance, Inc. WBA is projected to release financial results for its fiscal 2024 first quarter, before the opening bell on Jan. 4, 2024.

Analysts expect the company to post quarterly earnings at 63 cents per share, down from year-ago earnings of $1.16 per share. The company’s revenue might come in at $34.86 billion for the latest quarter, according to Benzinga Pro.

Walgreens is reportedly reconsidering plans to part ways with its U.K. drugstore chain, Boots, as discussions around a potential sale or separation resurface, which was previously scrapped approximately 18 months ago.

Walgreens shares gained 2.1% to close at $26.65 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• JP Morgan analyst Lisa Gill upgraded the stock from Neutral to Overweight and boosted the price target from $27 to $30 on Oct. 23, 2023. This analyst has an accuracy rate of 61%.
• RBC Capital analyst Ben Hendrix maintained a Sector Perform rating and lowered the price target from $29 to $26 on Oct. 13, 2023. This analyst has an accuracy rate of 61%.
• Truist Securities analyst David Macdonald maintained a Hold rating and slashed the price target from $30 to $25 on Oct. 11, 2023. This analyst has an accuracy rate of 68%.
• Mizuho analyst Ann Hynes maintained a Neutral rating and cut the price target from $31 to $25 on Oct. 10, 2023. This analyst has an accuracy rate of 73%.
• Deutsche Bank analyst George Hill maintained a Hold rating and cut the price target from $34 to $27 on Sept. 22, 2023. This analyst has an accuracy rate of 62%.

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