McKesson Corp. Price Target Increased to $170.00 by Analysts at Raymond James (MCK)
Equities researchers at Raymond James boosted their target price on shares of McKesson Corp. (NYSE:MCK) from $155.00 to $170.00 in a research report issued on Friday, Stock Ratings News reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price suggests a potential upside of 9.68% from the stock’s previous close.
Shares of McKesson Corp. (NYSE:MCK) opened at 154.99 on Friday. McKesson Corp. has a 52 week low of $84.65 and a 52 week high of $129.62. The stock has a 50-day moving average of $123.4 and a 200-day moving average of $114.6. The company has a market cap of $35.434 billion and a P/E ratio of 25.76.
McKesson Corp. (NYSE:MCK) last posted its quarterly earnings results on Thursday, October 24th. The company reported $2.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.03 by $0.24. The company had revenue of $33.00 billion for the quarter, compared to the consensus estimate of $32.16 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts predict that McKesson Corp. will post $8.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.62%.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of McKesson Corp. from $138.00 to $173.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated an “outperform” rating on shares of McKesson Corp. in a research note to investors on Friday. They now have a $180.00 price target on the stock. Finally, analysts at Robert W. Baird reiterated a “positive” rating on shares of McKesson Corp. in a research note to investors on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $150.17.
McKesson Corporation delivers pharmaceuticals, medical supplies and healthcare information technologies.
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