Thomson Reuters has estimates of $0.74 in earnings per share and $19.02 billion in revenues. Compared this to the same quarter in the previous year, earnings were $0.73 in earnings per share and $17.94 billion in revenues. Estimates for the following quarter are $0.76 in earnings per share and $19.20 billion in revenues.
Walgreen has seen its shares fall sharply to $57.75 in August from $68.74 which was a total loss of roughly 16%. Share prices dropped then when Walgreen refused to invert its corporate domicile for a lower effective tax rate when it acquired Alliance Boots. Since that time, share prices have held consistently in a trading range of just under $60 to $64 — breaking back under the $60 handle on Monday.
Options traders are braced for a move of up to $2.00 in either direction based upon the $60 puts and calls. There is active trading in many of the strike prices in both the puts and calls for October expiration.
Walgreen’s stock chart has some equal concerns. The 50-day moving average dipped under the 200-day moving average a week or so ago. That 200-day average is now up at $65.07, and the 50-day moving average is $63.86. It would seem that these moving averages may continue to act as resistance on the chart.
Walgreen shares were down 1.3% at $59.39 with just an hour and a half left in regular trading on Monday ahead of the report. The company has a consensus price target of $70.30 and its 52-week trading range is $53.76 to $76.39. It has a market cap of $56 billion.
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