Walgreens Offers Free COVID-19 Testing, Stock Faces Pressure
As Walgreens' earnings report approaches, the company has stepped up its efforts to combat the COVID-19 pandemic by offering free testing.
Oct. 13 2020, Updated 11:16 a.m. ET
Walgreens is gearing for its fourth-quarter earnings report. So far, the pharmacy chain’s earnings reports in 2020 have been mixed. Walgreens stock has been under pressure in 2020. What can investors expect in the upcoming earnings report?
When is Walgreens' earnings date?
Walgreens plans to report its earnings for the fourth quarter of fiscal 2020 on Oct. 15. The earnings report will be released before the opening bell. Management will host a conference call to discuss the results. Investors will be able to access the earnings discussion through Walgreens’ investor relations website.
Walgreens’ earnings report will be for the three months ended Aug. 31. The consensus estimate calls for Walgreens’ earnings report to deliver $34.36 billion in revenue and an EPS of $0.96.
What is Walgreens' stock price today?
Walgreens stock fell 0.51 percent to trade at $26.74 in the pre-market session on Tuesday, Oct. 13. The stock jumped 1.62 percent and closed at $36.93 on Oct. 12. Walgreens stock is down 37 percent in 2020 and trades 42 percent below its 52-week high of $64.50.
Walgreens' stock forecast
Should you buy Walgreens stock? The most bullish analyst sees a 25 percent upside in Walgreens stock to $46 in 12 months. However, the most bearish analyst sees a 10 percent downside in Walgreens stock to $33.
Walgreens' dividend dates in 2020
Investors seeking out stocks with dividends may find Walgreens stock appealing. The company has a long dividend history. On Walgreens' investor relations website, the company says that it pays quarterly dividends in March, June, September, and December.
So far, Walgreens has paid a dividend three times in 2020. The company paid out a dividend of $0.4575 per share on March 12. Walgreens paid out the same dividend amount on June 12 and Sept. 11. The company has paid $1.83 per share in dividends for the last 12 months. The amount works out to a 5 percent dividend yield at the $36.93 stock price.
Walgreens has maintained the same quarterly dividend payout of $0.4575 since September 2019 after increasing it from $0.4400. Investors will be waiting to see if Walgreens boosts its quarterly dividend later this week.
Walgreens' COVID-19 testing
Walgreens thinks that that expanding COVID-19 testing is crucial to defeating the coronavirus pandemic. The pharmacy giant offers free COVID-19 testing to eligible people in partnership with PWNHealth. Walgreens' free COVID-19 testing is available at select locations.
In order to take advantage of Walgreens' free COVID-19 testing, people have to complete a screening to see if they are eligible. If they are eligible, they choose a location and time for a testing appointment. Walgreens' pharmacy team helps eligible people perform the test themselves using a nasal swab. The test is performed in your car and the results are sent to you through PWNHealth.