Walgreens Boots Alliance (WBA) closed the latest trading day at $8.24, indicating a -0.6% change from the previous session's end. Elsewhere, the Dow gained 0.32%, while the tech-heavy Nasdaq lost 0.11%.

Shares of the largest U.S. drugstore chain have depreciated by 14.8% over the course of the past month, underperforming the Retail-Wholesale sector's gain of 2.38% and the S&P 500's gain of 0.97%.

The investment community will be closely monitoring the performance of Walgreens Boots Alliance in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.40, reflecting a 39.39% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $37.2 billion, up 1.35% from the prior-year quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.53 per share and a revenue of $149.18 billion, indicating changes of -46.88% and +1.03%, respectively, from the former year.

Investors might also notice recent changes to analyst estimates for Walgreens Boots Alliance. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.94% decrease. Walgreens Boots Alliance currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Walgreens Boots Alliance is presently being traded at a Forward P/E ratio of 5.43. For comparison, its industry has an average Forward P/E of 5.43, which means Walgreens Boots Alliance is trading at no noticeable deviation to the group.

Investors should also note that WBA has a PEG ratio of 1.09 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Retail - Pharmacies and Drug Stores industry stood at 0.94 at the close of the market yesterday.