Earnings This Week: Paychex and Walgreens Results on Tap

As second-quarter earnings season starts to gather steam next week, a payroll benefits manager and pharmacy chain are set to report results.
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A couple of S&P 500 companies are expected to report financial results in the week ahead. 

Payroll benefits manager Paychex, Inc.  (PAYX) - Get Report is expected to report adjusted net income of $217 million, or 60 cents a share, on sales of $910.9 million before the market opens on Tuesday, based on a FactSet survey of 18 analysts. 

In the same period a year ago, the company posted earnings of 63 cents a share on sales of $980.4 million. It reported net income of $324.6 million.

In the upcoming quarter analysts are forecasting adjusted net income of $221.5 million, or 61 cents a share, on sales of $917.2 million. For the year, analysts project revenue of $4 billion.

Paychex is currently trading at a price-to-forward-earnings ratio of 27.4 based on the 12-month estimates of 19 analysts surveyed by FactSet.

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On Thursday, Walgreens Boots Alliance Inc  (WBA) - Get Report is expected to report net income of $981.5 million, or $1.20 a share, on sales of $34.3 billion before the market opens, based on a FactSet survey of 19 analysts. 

In the same period a year ago, the company posted earnings of $1.47 a share on sales of $34.6 billion. It reported net income of $1.2 billion. The stock has risen 1.4% since the company last reported earnings on April 2.

In the upcoming quarter analysts are forecasting net income of $1.1 billion, or $1.35 a share, on sales of $34.4 billion. For the year, analysts project revenue of $138.9 billion.

Walgreens is currently trading at a price-to-forward-earnings ratio of 7.2 based on the 12-month estimates of 22 analysts surveyed by FactSet.

Read more: Jim Cramer's game plan for the week ahead.