$2.76 EPS Expected for McKesson Corporation (MCK) This Quarter
Wall Street brokerages forecast that McKesson Corporation (NYSE:MCK) will report earnings of $2.76 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for McKesson Corporation’s earnings, with the lowest EPS estimate coming in at $2.59 and the highest estimate coming in at $2.90. McKesson Corporation reported earnings per share of $2.94 during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.1%. The company is expected to issue its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that McKesson Corporation will report full-year earnings of $12.11 per share for the current fiscal year, with EPS estimates ranging from $11.90 to $12.36. For the next year, analysts anticipate that the firm will report earnings of $12.94 per share, with EPS estimates ranging from $12.75 to $13.26. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow McKesson Corporation.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the consensus estimate of $2.81 by $0.35. The business had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $3.50 earnings per share.
MCK has been the topic of several recent research reports. Vetr lowered McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $157.86 price objective on the stock. in a research report on Tuesday, April 11th. Evercore ISI reiterated an “outperform” rating and set a $166.00 price objective on shares of McKesson Corporation in a research report on Monday, April 17th. Leerink Swann reiterated a “hold” rating and set a $140.00 price objective on shares of McKesson Corporation in a research report on Friday, April 21st. Barclays PLC reiterated an “overweight” rating and set a $174.00 price objective on shares of McKesson Corporation in a research report on Thursday, April 27th. Finally, Zacks Investment Research lowered McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. McKesson Corporation currently has an average rating of “Hold” and an average price target of $171.21.
McKesson Corporation (MCK) traded down 0.42% during mid-day trading on Tuesday, reaching $154.69. The company had a trading volume of 1,090,599 shares. The stock has a 50 day moving average price of $164.64 and a 200-day moving average price of $151.68. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $197.08. The stock has a market capitalization of $32.53 billion, a P/E ratio of 7.02 and a beta of 1.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be issued a $0.34 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 annualized dividend and a yield of 0.88%. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio (DPR) is 5.00%.
In other McKesson Corporation news, Chairman John H. Hammergren sold 38,619 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $163.76, for a total value of $6,324,247.44. Following the completion of the sale, the chairman now owns 19,309 shares in the company, valued at approximately $3,162,041.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman John H. Hammergren sold 19,316 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $162.31, for a total value of $3,135,179.96. Following the completion of the sale, the chairman now owns 96,644 shares of the company’s stock, valued at approximately $15,686,287.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,231 shares of company stock valued at $9,830,297. Company insiders own 1.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Regent Investment Management LLC boosted its stake in McKesson Corporation by 60.2% in the first quarter. Regent Investment Management LLC now owns 21,435 shares of the company’s stock valued at $3,178,000 after buying an additional 8,055 shares during the period. Loews Corp acquired a new stake in McKesson Corporation during the first quarter valued at $253,000. Pax World Management LLC boosted its stake in McKesson Corporation by 6.4% in the first quarter. Pax World Management LLC now owns 1,662 shares of the company’s stock valued at $246,000 after buying an additional 100 shares during the period. Dubuque Bank & Trust Co. boosted its stake in McKesson Corporation by 32.6% in the first quarter. Dubuque Bank & Trust Co. now owns 30,712 shares of the company’s stock valued at $4,553,000 after buying an additional 7,546 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in McKesson Corporation by 1.9% in the fourth quarter. Macquarie Group Ltd. now owns 49,668 shares of the company’s stock valued at $6,976,000 after buying an additional 917 shares during the period. Institutional investors and hedge funds own 89.04% of the company’s stock.
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About McKesson Corporation
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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