2024-04-10 15:07:24 ET
Summary
- Since I last wrote about Walgreens in January, it's down by 21%. This was expected even then, prompting a Sell rating.
- There are signs of improvement now, though. Its non-GAAP EPS grew in Q2 FY24 and if it weren't for an impairment charge, it would have seen minor GAAP earnings too.
- The stock's forward P/E and dividend yield look good, though there are risks ahead in terms of the earnings outlook and an expected revenue slowdown.
Since I last wrote about the big pharmacy chain Walgreens Boots Alliance ( WBA ) in January, its price has fallen by a significant 21% and even more year-to-date [YTD]. The writing was on the wall even at the time, which led me to title the article “Walgreens: The Dividend Cut Is The Final Nail” and put a Sell rating on it....
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For further details see:
3 Reasons Walgreens Can See Upside (Rating Upgrade)