Brokerages forecast that McKesson Co. (NYSE:MCK) will announce $3.28 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for McKesson’s earnings, with estimates ranging from $3.13 to $3.39. McKesson also reported earnings of $3.28 per share in the same quarter last year. The firm is scheduled to announce its next earnings report before the market opens on Thursday, October 25th.
On average, analysts expect that McKesson will report full year earnings of $13.31 per share for the current financial year, with EPS estimates ranging from $13.19 to $13.40. For the next year, analysts expect that the business will report earnings of $14.35 per share, with EPS estimates ranging from $14.00 to $14.65. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for McKesson.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, July 26th. The company reported $2.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.01. McKesson had a negative net margin of 0.18% and a positive return on equity of 25.19%. The firm had revenue of $52.61 billion for the quarter, compared to the consensus estimate of $52.91 billion. During the same period in the prior year, the firm posted $2.47 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year.
A number of brokerages recently issued reports on MCK. Standpoint Research raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Royal Bank of Canada lowered their price target on shares of McKesson to $158.00 and set a “market perform” rating on the stock in a report on Friday, June 29th. Morgan Stanley decreased their price objective on shares of McKesson from $175.00 to $142.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 3rd. Robert W. Baird downgraded shares of McKesson from an “outperform” rating to a “neutral” rating in a report on Friday, July 20th. Finally, Citigroup decreased their price objective on shares of McKesson from $160.00 to $2.86 and set a “buy” rating on the stock in a report on Friday, July 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $151.99.
NYSE MCK traded down $0.31 during mid-day trading on Monday, reaching $132.39. 1,905,400 shares of the stock were exchanged, compared to its average volume of 1,368,775. McKesson has a 1 year low of $122.49 and a 1 year high of $178.86. The company has a market capitalization of $26.51 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.57 and a current ratio of 1.00.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Tuesday, September 4th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.18%. This is an increase from McKesson’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 31st. McKesson’s dividend payout ratio (DPR) is presently 12.36%.
In other McKesson news, Director N Anthony Coles sold 1,350 shares of the stock in a transaction on Friday, August 31st. The shares were sold at an average price of $128.69, for a total transaction of $173,731.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.87% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Fort L.P. purchased a new position in shares of McKesson in the second quarter worth about $110,000. James Hambro & Partners lifted its stake in shares of McKesson by 141.6% in the second quarter. James Hambro & Partners now owns 877 shares of the company’s stock worth $117,000 after buying an additional 514 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of McKesson in the second quarter worth about $118,000. Reilly Financial Advisors LLC lifted its stake in shares of McKesson by 506.8% in the third quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock worth $119,000 after buying an additional 750 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of McKesson in the first quarter worth about $138,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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