Ahead of Walgreens earnings, two market analysts share whether it’s a buy

  • 📰 CNBC
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

Walgreens, the second-largest pharmacy chain in the U.S., is set to report earnings before the bell Thursday. Here's what to expect after the release.

– which factor in store closures –decreased 0.7% in its third quarter ended in May, though comparable retail sales rose by 1.9%. Comparable pharmacy sales increased at a faster 3.5% rate.

"We all know that the pharmacy side of the business is strong, but the front end of the store has seen declining comps for what seems like an eternity," said Petrides. Matt Maley, chief market strategist at Miller Tabak, agreed that it is a "cheap" stock. However, he is wary on its potential for long-term gains.

"The stock has been making a series of lower highs and lower lows for five years now. I mean over the last five years, the stock is down 60%, while the market has been up 70%," said Maley during the same "Trading Nation" segment."I don't love it right here, but on a short-term basis traders could see a pop. If these earnings take the stock above $37.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines