Walgreens Boots Alliance (WBA) closed the most recent trading day at $9.03, moving +0.22% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.02%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 0.26%.

Heading into today, shares of the largest U.S. drugstore chain had lost 13.53% over the past month, lagging the Retail-Wholesale sector's gain of 3.9% and the S&P 500's gain of 2.99% in that time.

Investors will be eagerly watching for the performance of Walgreens Boots Alliance in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.40, reflecting a 39.39% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $37.23 billion, up 1.43% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.53 per share and a revenue of $149.18 billion, signifying shifts of -46.88% and +1.03%, respectively, from the last year.

Investors should also pay attention to any latest changes in analyst estimates for Walgreens Boots Alliance. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.13% lower. Currently, Walgreens Boots Alliance is carrying a Zacks Rank of #3 (Hold).

In terms of valuation, Walgreens Boots Alliance is currently trading at a Forward P/E ratio of 5.91. For comparison, its industry has an average Forward P/E of 5.91, which means Walgreens Boots Alliance is trading at no noticeable deviation to the group.

Also, we should mention that WBA has a PEG ratio of 1.18. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Retail - Pharmacies and Drug Stores was holding an average PEG ratio of 0.94 at yesterday's closing price.