Walgreens Boots Alliance (WBA) closed at $38.46 in the latest trading session, marking a +1.18% move from the prior day. This change outpaced the S&P 500's 1.13% gain on the day. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 1.28%.Coming into today, shares of the largest U.S. drugstore chain had gained 6.2% in the past month. In that same time, the Retail-Wholesale sector gained 6.06%, while the S&P 500 gained 10.9%.WBA will be looking to display strength as it nears its next earnings release. On that day, WBA is projected to report earnings of $0.96 per share, which would represent a year-over-year decline of 29.93%. Meanwhile, our latest consensus estimate is calling for revenue of $34.89 billion, up 1.59% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.83 per share and revenue of $142.79 billion. These totals would mark changes of +1.9% and +2.33%, respectively, from last year.It is also important to note the recent changes to analyst estimates for WBA. These revisions help to show the ever-changing nature of near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. WBA is currently sporting a Zacks Rank of #3 (Hold).Valuation is also important, so investors should note that WBA has a Forward P/E ratio of 7.86 right now. Its industry sports an average Forward P/E of 9.14, so we one might conclude that WBA is trading at a discount comparatively.It is also worth noting that WBA currently has a PEG ratio of 1.57. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Pharmacies and Drug Stores industry currently had an average PEG ratio of 1.56 as of yesterday's close.The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 28% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Walgreens Boots Alliance, Inc. (WBA): Free Stock Analysis Report To read this article on Zacks.com click here.