Ouch. If you own Walgreen (NYSE: WAG ) stock, you're likely feeling some pain after Tuesday's drop of nearly 6%. Shares fell the most in months on news that the big pharmacy chain missed the consensus earnings estimates for its fiscal 2013 third quarter. Does the pullback present a good opportunity to buy the stock? Let's take a look.
Analysts following the company expect that it will grow earnings more quickly in the next few years than it has over recent years. I suspect they'll prove to be right. Walgreen isn't likely to make further missteps with contractual agreements and should benefit from its renewed customer focus. Over the long run, I think Walgreen stock should do well for investors. And its 2.3% dividend yield should help assuage at least a little bit of the pain felt with the occasional earnings miss.
Source: Motley Fool
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