McKesson Corp. Price Target Raised to $174.00 at Sterne Agee (MCK)
Equities researchers at Sterne Agee boosted their price target on shares of McKesson Corp. (NYSE:MCK) from $164.00 to $174.00 in a research report issued on Thursday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Sterne Agee’s price objective points to a potential upside of 12.27% from the stock’s previous close.
Shares of McKesson Corp. (NYSE:MCK) traded up 3.33% during mid-day trading on Thursday, hitting $154.99. The stock had a trading volume of 4,271,018 shares. 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 price-to-earnings ratio of 25.76.
McKesson Corp. (NYSE:MCK) last issued its quarterly earnings data on Thursday, October 24th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.92 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts expect that McKesson Corp. will post $8.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, January 2nd. Investors 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%.
A number of other firms have also recently commented on MCK. Analysts at ISI Group upgraded shares of McKesson Corp. from a “buy” rating to a “strong-buy” rating in a research note to investors on Thursday. Separately, analysts at Bank of America Corp. downgraded shares of McKesson Corp. to an “underperform” rating in a research note to investors on Thursday. Finally, analysts at Leerink Swann upgraded shares of McKesson Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $150.17.
McKesson Corporation delivers pharmaceuticals, medical supplies and healthcare information technologies.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.