McKesson Corp. (MCK) Releases Quarterly Earnings Results, Misses Expectations By $0.40 EPS
McKesson Corp. (NYSE:MCK) announced its earnings results on Friday. The company reported $1.45 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.85 by $0.40, American Banking News.com reports. The company had revenue of $34.30 billion for the quarter, compared to the consensus estimate of $38.57 billion.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of McKesson Corp. from $181.00 to $193.00 in a research note to investors on Friday, January 24th. They now have a “buy” rating on the stock. On a related note, analysts at FBR Capital Markets reiterated a “positive” rating on shares of McKesson Corp. in a research note to investors on Friday, January 24th. Finally, analysts at Zacks downgraded shares of McKesson Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, January 17th. They now have a $177.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $164.58.
In other McKesson Corp. news, Director Alton Irby III sold 1,300 shares of the stock on the open market in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $167.98, for a total transaction of $218,374.00. Following the completion of the sale, the director now directly owns 25,599 shares of the company’s stock, valued at approximately $4,300,120. The sale was disclosed in a filing with the SEC, which is available at this link.
McKesson Corp. (NYSE:MCK) opened at 177.23 on Friday. McKesson Corp. has a one year low of $101.46 and a one year high of $177.50. The stock’s 50-day moving average is $165. and its 200-day moving average is $144.1. The company has a market cap of $40.712 billion and a P/E ratio of 29.45.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of 0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, February 27th.
McKesson Corporation delivers pharmaceuticals, medical supplies and healthcare information technologies.
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