$51.60 Billion in Sales Expected for McKesson Corporation (MCK) This Quarter
Equities research analysts forecast that McKesson Corporation (NYSE:MCK) will announce sales of $51.60 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for McKesson Corporation’s earnings, with the highest sales estimate coming in at $51.78 billion and the lowest estimate coming in at $51.40 billion. McKesson Corporation posted sales of $49.96 billion in the same quarter last year, which would suggest a positive year over year growth rate of 3.3%. The company is expected to announce its next earnings report before the market opens on Thursday, October 26th.
On average, analysts expect that McKesson Corporation will report full-year sales of $51.60 billion for the current fiscal year, with estimates ranging from $204.28 billion to $207.31 billion. For the next year, analysts expect that the business will report sales of $210.39 billion per share, with estimates ranging from $202.78 billion to $213.32 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow McKesson Corporation.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.35). The company had revenue of $51.05 billion during the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. McKesson Corporation’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $3.50 earnings per share.
Several equities research analysts recently issued reports on the stock. Needham & Company LLC set a $179.00 target price on shares of McKesson Corporation and gave the stock a “buy” rating in a research report on Monday. Cowen and Company raised shares of McKesson Corporation from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $176.00 to $189.00 in a research report on Tuesday, October 10th. Royal Bank Of Canada assumed coverage on shares of McKesson Corporation in a research report on Tuesday, September 19th. They issued a “sector perform” rating and a $168.00 target price on the stock. Robert W. Baird raised shares of McKesson Corporation from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $175.00 to $178.00 in a research report on Tuesday, September 19th. Finally, Morgan Stanley cut shares of McKesson Corporation from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $184.00 to $172.00 in a research report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. McKesson Corporation has an average rating of “Hold” and a consensus price target of $172.45.
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McKesson Corporation (MCK) traded down 0.16% during midday trading on Tuesday, hitting $146.37. 903,924 shares of the stock were exchanged. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $169.29. The stock has a market cap of $30.78 billion, a price-to-earnings ratio of 6.64 and a beta of 1.17. The firm has a 50 day moving average of $152.00 and a 200-day moving average of $153.59.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 1st were issued a $0.34 dividend. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, August 30th. This represents a $1.36 annualized dividend and a yield of 0.93%. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.07%.
In other news, Chairman John H. Hammergren sold 225,000 shares of McKesson Corporation stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $151.67, for a total transaction of $34,125,750.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Marie L/Ca Knowles sold 1,083 shares of McKesson Corporation stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $162.55, for a total transaction of $176,041.65. The disclosure for this sale can be found here. Insiders have sold 952,066 shares of company stock worth $145,736,987 in the last quarter. Insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. IHT Wealth Management LLC raised its stake in shares of McKesson Corporation by 64.2% during the second quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock valued at $1,027,000 after purchasing an additional 190 shares during the period. Captrust Financial Advisors purchased a new stake in shares of McKesson Corporation during the second quarter valued at approximately $107,000. American Beacon Advisors Inc. purchased a new stake in shares of McKesson Corporation during the first quarter valued at approximately $100,000. Orrstown Financial Services Inc. raised its stake in shares of McKesson Corporation by 6.0% during the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after purchasing an additional 43 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of McKesson Corporation during the second quarter valued at approximately $125,000. Institutional investors own 85.16% of the company’s stock.
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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