Value In WBA
There’s not a lot happening on the earnings front this week but one stock that I own that is reporting is Walgreens (WBA). The stock has been a disaster for me but it may be bottoming. On October 10, the company announced the appointment of new CEO Tim Wentworth. On October 12, WBA announced 4QFY23 earnings. In conjunction with that report, WBA guided FY24 adjusted EPS to $3.20-$3.50. At a closing price Friday of $26.11 the stock is trading for less than 8x forward EPS. It also pays a 48 cent quarterly dividend which works out to 7.35% annualized. If WBA can just report an inline quarter Thursday morning, I think the stock could finally be on its way…..
