Jefferies Group Comments on McKesson Corporation’s FY2018 Earnings (MCK)
McKesson Corporation (NYSE:MCK) – Equities research analysts at Jefferies Group boosted their FY2018 earnings per share estimates for shares of McKesson Corporation in a report issued on Friday. Jefferies Group analyst B. Tanquilut now expects that the company will post earnings of $12.14 per share for the year, up from their prior estimate of $12.06. Jefferies Group currently has a “Hold” rating and a $165.00 target price on the stock.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.50. McKesson Corporation had a return on equity of 24.87% and a net margin of 2.24%. The business had revenue of $52.06 billion for the quarter, compared to analysts’ expectations of $51.69 billion. During the same period in the previous year, the business posted $2.94 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: “Jefferies Group Comments on McKesson Corporation’s FY2018 Earnings (MCK)” was posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/10/30/jefferies-group-comments-on-mckesson-corporations-fy2018-earnings-mck.html.
Several other research analysts have also recently issued reports on MCK. Zacks Investment Research raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Wednesday, July 12th. Vetr cut McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price on the stock. in a research report on Monday, July 17th. BidaskClub cut McKesson Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. TheStreet cut McKesson Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Finally, Needham & Company LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a research report on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $174.62.
Shares of McKesson Corporation (NYSE MCK) traded up 0.107% during midday trading on Monday, reaching $135.765. The company had a trading volume of 398,318 shares. The company has a 50 day moving average of $151.10 and a 200 day moving average of $153.54. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $169.29. The firm has a market capitalization of $28.55 billion, a price-to-earnings ratio of 6.160 and a beta of 1.17.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.45%.
In related news, SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total transaction of $140,085.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director M Christine Jacobs sold 1,083 shares of McKesson Corporation stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $145.43, for a total value of $157,500.69. The disclosure for this sale can be found here. Insiders have sold a total of 950,983 shares of company stock worth $145,560,946 in the last three months. 1.20% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. American Beacon Advisors Inc. bought a new stake in McKesson Corporation during the 1st quarter valued at approximately $100,000. Captrust Financial Advisors purchased a new position in McKesson Corporation during the 2nd quarter valued at approximately $107,000. Archford Capital Strategies LLC grew its holdings in McKesson Corporation by 52.8% during the 1st quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after buying an additional 268 shares in the last quarter. Orrstown Financial Services Inc. grew its holdings in McKesson Corporation by 6.0% during the 2nd quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after buying an additional 43 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in McKesson Corporation during the 2nd quarter valued at approximately $125,000. 85.29% of the stock is currently owned by 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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