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Walgreens Boots Alliance (WBA) is set to report third quarter fiscal 2022 earnings results before the opening bell Thursday. Purely from a numbers perspective — whether gross margin or revenue growth — Walgreens has executed relatively well given the obstacles it has faced, namely weak store traffic and supply chain headwinds.

Aside from producing solid results in the first two quarters of the year, Walgreens also boosted its profit forecast and is now expecting earnings growth seen around 10%. Notably, the company has found ways to offset downbeat foot traffic amid rising inflation with strong solid front-end revenue. However, that performance has not been reflected in the stock price, which has fallen 21% year to date and 19% over the past six months.

The health and wellness company has been working to simplify and transform its business. That strategy, which includes initiatives in both the U.S. and internationally, has likely driven revenue growth in the just-ended quarter. One of the initiatives was forming the new Walgreens Health business. The goal of this business was to bring a sort of personalized, whole-person healthcare to various communities across America.

The company also recently sold 6 million shares of AmerisourceBergen Corporation common stock for $150 per share, generating proceeds of nearly $900 million. All told, operating more than 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens valuation is attractive at current levels, given the growth the company is poised to realize over the next several quarters. Assuming another top- and bottling beat on Thursday, WBA stock could be a bargain for the foreseeable future. And finding an acquirer for its Boots chain will certainly be a positive.

For the three months that ended May, Wall Street expects the Walgreens to earn 92 cents per share on revenue of $32.23 billion. This compares to the year-ago quarter when earnings came to $1.38 per share on $34.03 billion in revenue. For the full year, ending October, earnings are projected to rise 2.24% year-over-year to $5.03 per share, while full-year revenue of $131.79 billion would decline 0.5% year-over-year.

Roughly 76% of the company’s revenue and operating profit in the previous two quarters have come from the U.S. pharmacy business, compared to 7% from International revenue. The remaining 24% comes from retail sales. It’s a highly competitive environment that is expected to grow at a compound annual rate of 6.3% in the next six year, with a potential market size of $861.67 billion. Large rivals which includes CVS Pharmacy (CVS), Walmart (WMT), Kroger (KR), among others, are bidding for that market.

CVS leads the pharmacy industry on prescription revenue with $122.6 billion, while Walgreens is second with $90.3 billion in revenue. This is why Walgreens’ new Walgreens Health segment will be crucial to its future success. Described as “a technology-enabled care model powered by a nationally scaled, locally delivered healthcare platform,” Walgreens Health aims to drive better health outcomes and make healthcare more affordable and accessible. 

Until then, Walgreens must rely on its current operations, which is doing pretty well currently. In the second quarter, the company beat on both the top and bottom lines with revenue rising 3% year over year to $33.76 billion, surpassing Street estimates by $430 million. Adjusted EPS was $1.59, topping estimates by 19 cents. This was the company’s seventh straight bottom-line beat, driven by 15% growth in retail same-store sales. Just as impressive, same-store sales from its Boots retail segment rose 22%. On Thursday investors will look for Walgreens to provide additional doses of solid execution.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The following companies are expected to report earnings prior to market open on 06/29/2022. Visit our Earnings Calendar for a full list of expected earnings releases.

Paychex, Inc. (PAYX)is reporting for the quarter ending May 31, 2022. The outsourcing company’s consensus earnings per share forecast from the 9 analysts that follow the stock is $0.79. This value represents a 9.72% increase compared to the same quarter last year. In the past year PAYX has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 10.58%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for PAYX is 32.71 vs. an industry ratio of 17.90, implying that they will have a higher earnings growth than their competitors in the same industry.

General Mills, Inc. (GIS)is reporting for the quarter ending May 31, 2022. The food company’s consensus earnings per share forecast from the 7 analysts that follow the stock is $1.01. This value represents a 10.99% increase compared to the same quarter last year. GIS missed the consensus earnings per share in the 4th calendar quarter of 2021 by -6.6%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for GIS is 18.55 vs. an industry ratio of 27.00.

McCormick & Company, Incorporated (MKC)is reporting for the quarter ending May 31, 2022. The food company’s consensus earnings per share forecast from the 5 analysts that follow the stock is $0.65. This value represents a 5.80% decrease compared to the same quarter last year. In the past year MKC has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 6.78%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for MKC is 27.91 vs. an industry ratio of 27.00, implying that they will have a higher earnings growth than their competitors in the same industry.

MSC Industrial Direct Company, Inc. (MSM)is reporting for the quarter ending May 31, 2022. The industrial services company’s consensus earnings per share forecast from the 4 analysts that follow the stock is $1.75. This value represents a 23.24% increase compared to the same quarter last year. In the past year MSM has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2022 Price to Earnings ratio for MSM is 12.60 vs. an industry ratio of 4.20, implying that they will have a higher earnings growth than their competitors in the same industry.

Patterson Companies, Inc. (PDCO)is reporting for the quarter ending April 30, 2022. The medical/dental supplies company’s consensus earnings per share forecast from the 7 analysts that follow the stock is $0.56. This value represents a 47.37% increase compared to the same quarter last year. PDCO missed the consensus earnings per share in the 2nd calendar quarter of 2021 by -28.3%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for PDCO is 13.58 vs. an industry ratio of 22.70.

Unifirst Corporation (UNF)is reporting for the quarter ending May 31, 2022. The uniform company’s consensus earnings per share forecast from the 2 analysts that follow the stock is $1.93. This value represents a 12.67% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2022 Price to Earnings ratio for UNF is 23.89 vs. an industry ratio of 28.80.

Schnitzer Steel Industries, Inc. (SCHN)is reporting for the quarter ending May 31, 2022. The steel company’s consensus earnings per share forecast from the 2 analysts that follow the stock is $2.28. This value represents a 3.64% increase compared to the same quarter last year. Zacks Investment Research reports that the 2022 Price to Earnings ratio for SCHN is 4.98 vs. an industry ratio of 3.30, implying that they will have a higher earnings growth than their competitors in the same industry.

Bed Bath & Beyond Inc. (BBBY)is reporting for the quarter ending May 31, 2022. The retail company’s consensus earnings per share forecast from the 9 analysts that follow the stock is $-1.30. This value represents a 2700.00% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2023 Price to Earnings ratio for BBBY is -2.59 vs. an industry ratio of 10.90.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In trading on Wednesday, shares of Commerzbank A G (Symbol: CRZBF) crossed below their 200 day moving average of $7.62, changing hands as low as $7.30 per share. Commerzbank A G shares are currently trading off about 6% on the day. The chart below shows the one year performance of CRZBF shares, versus its 200 day moving average:

Looking at the chart above, CRZBF’s low point in its 52 week range is $5.81 per share, with $10.52 as the 52 week high point — that compares with a last trade of $7.30.

Free Report: Top 7%+ Dividends (paid monthly)

Click here to find out which 9 other stocks recently crossed below their 200 day moving average »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Investors in SoFi Technologies Inc (Symbol: SOFI) saw new options become available today, for the May 2023 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 324 days until expiration the newly available contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the SOFI options chain for the new May 2023 contracts and identified one put and one call contract of particular interest.

The put contract at the $5.00 strike price has a current bid of $1.32. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $5.00, but will also collect the premium, putting the cost basis of the shares at $3.68 (before broker commissions). To an investor already interested in purchasing shares of SOFI, that could represent an attractive alternative to paying $5.43/share today.

Because the $5.00 strike represents an approximate 8% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 26.40% return on the cash commitment, or 29.74% annualized — at Stock Options Channel we call this the YieldBoost.

Below is a chart showing the trailing twelve month trading history for SoFi Technologies Inc, and highlighting in green where the $5.00 strike is located relative to that history:

Turning to the calls side of the option chain, the call contract at the $7.00 strike price has a current bid of $1.13. If an investor was to purchase shares of SOFI stock at the current price level of $5.43/share, and then sell-to-open that call contract as a “covered call,” they are committing to sell the stock at $7.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 49.72% if the stock gets called away at the May 2023 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if SOFI shares really soar, which is why looking at the trailing twelve month trading history for SoFi Technologies Inc, as well as studying the business fundamentals becomes important. Below is a chart showing SOFI’s trailing twelve month trading history, with the $7.00 strike highlighted in red:

Considering the fact that the $7.00 strike represents an approximate 29% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 20.81% boost of extra return to the investor, or 23.44% annualized, which we refer to as the YieldBoost.

Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today’s price of $5.43) to be 78%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.

Top YieldBoost Calls of the S&P 500 »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.