$2.78 Earnings Per Share Expected for McKesson Corporation (NYSE:MCK) This Quarter
Brokerages expect McKesson Corporation (NYSE:MCK) to announce earnings of $2.78 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for McKesson Corporation’s earnings. The highest EPS estimate is $2.97 and the lowest is $2.59. McKesson Corporation reported earnings per share of $2.94 in the same quarter last year, which would suggest a negative year over year growth rate of 5.4%. The company is scheduled to issue its next quarterly earnings results on Thursday, October 26th.
According to Zacks, 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 fiscal year, analysts anticipate that the firm will report earnings of $12.93 per share, with EPS estimates ranging from $12.70 to $13.26. Zacks’ EPS averages are a mean average based on a survey of research firms that cover McKesson Corporation.
McKesson Corporation (NYSE:MCK) last released its earnings results on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The firm had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. During the same quarter in the previous year, the business posted $3.50 EPS. McKesson Corporation’s revenue was up 2.7% on a year-over-year basis.
MCK has been the subject of a number of analyst reports. Vetr raised McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $157.86 price target for the company in a report on Tuesday, April 18th. Evercore ISI reissued an “outperform” rating and issued a $166.00 price target on shares of McKesson Corporation in a report on Monday, April 17th. Barclays PLC reissued an “overweight” rating and issued a $174.00 price target on shares of McKesson Corporation in a report on Thursday, April 27th. Leerink Swann set a $140.00 price target on McKesson Corporation and gave the stock a “hold” rating in a report on Friday, May 19th. Finally, J P Morgan Chase & Co raised McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target for the company in a report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. McKesson Corporation currently has an average rating of “Hold” and a consensus target price of $171.21.
McKesson Corporation (NYSE:MCK) traded down 0.38% during midday trading on Tuesday, reaching $161.26. 1,319,516 shares of the company’s stock were exchanged. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $197.08. The firm’s 50 day moving average is $164.64 and its 200 day moving average is $151.68. The firm has a market capitalization of $33.91 billion, a price-to-earnings ratio of 7.38 and a beta of 1.13.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is 5.00%.
In other McKesson Corporation news, Chairman John H. Hammergren sold 38,619 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $163.76, for a total transaction of $6,324,247.44. Following the completion of the sale, the chairman now owns 19,309 shares of the company’s stock, valued at $3,162,041.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marie L/Ca Knowles sold 1,083 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $162.55, for a total value of $176,041.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,231 shares of company stock valued at $9,830,297. 1.20% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. American Beacon Advisors Inc. purchased a new stake in McKesson Corporation during the first quarter worth about $100,000. Orrstown Financial Services Inc. increased its stake in McKesson Corporation by 16.3% in the first quarter. Orrstown Financial Services Inc. now owns 715 shares of the company’s stock worth $106,000 after buying an additional 100 shares during the period. Archford Capital Strategies LLC increased its stake in McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock worth $115,000 after buying an additional 268 shares during the period. WFG Advisors LP increased its stake in McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock worth $121,000 after buying an additional 452 shares during the period. Finally, Tompkins Financial Corp increased its stake in McKesson Corporation by 2.3% in the second quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock worth $129,000 after buying an additional 18 shares during the period. 89.04% of the stock is owned by hedge funds and other institutional investors.
McKesson Corporation Company Profile
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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