Zacks: Analysts Anticipate McKesson Co. (MCK) Will Announce Quarterly Sales of $52.00 Billion
Brokerages expect McKesson Co. (NYSE:MCK) to post $52.00 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for McKesson’s earnings. The highest sales estimate is $52.58 billion and the lowest is $51.51 billion. McKesson reported sales of $50.13 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.7%. The firm is scheduled to announce its next earnings results on Wednesday, January 24th.
On average, analysts expect that McKesson will report full year sales of $52.00 billion for the current year, with estimates ranging from $204.58 billion to $206.37 billion. For the next year, analysts expect that the firm will report sales of $209.91 billion per share, with estimates ranging from $203.19 billion to $214.45 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for McKesson.
McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.50. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The firm had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. During the same quarter in the prior year, the company posted $2.94 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis.
McKesson (NYSE MCK) opened at $153.81 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.05. McKesson has a 1-year low of $133.82 and a 1-year high of $169.29. The firm has a market cap of $31,806.96, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.36 annualized dividend and a yield of 0.88%. McKesson’s payout ratio is currently 6.45%.
In related news, CEO John H. Hammergren sold 100,000 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $154.15, for a total transaction of $15,415,000.00. Following the completion of the transaction, the chief executive officer now owns 165,000 shares in the company, valued at $25,434,750. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John H. Hammergren sold 99,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $153.89, for a total transaction of $15,235,110.00. Following the transaction, the chief executive officer now owns 165,000 shares of the company’s stock, valued at approximately $25,391,850. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 949,000 shares of company stock valued at $145,263,360. 1.20% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of MCK. Daiwa Securities Group Inc. boosted its position in McKesson by 109.9% during the second quarter. Daiwa Securities Group Inc. now owns 56,894 shares of the company’s stock worth $9,361,000 after purchasing an additional 29,783 shares during the period. Busey Trust CO boosted its position in McKesson by 1.7% during the second quarter. Busey Trust CO now owns 27,920 shares of the company’s stock worth $4,594,000 after purchasing an additional 479 shares during the period. Ingalls & Snyder LLC boosted its position in McKesson by 1.3% during the second quarter. Ingalls & Snyder LLC now owns 9,587 shares of the company’s stock worth $1,577,000 after purchasing an additional 125 shares during the period. Markel Corp boosted its position in McKesson by 65.9% during the second quarter. Markel Corp now owns 15,100 shares of the company’s stock worth $2,485,000 after purchasing an additional 6,000 shares during the period. Finally, Parsec Financial Management Inc. boosted its position in McKesson by 2.5% during the second quarter. Parsec Financial Management Inc. now owns 7,658 shares of the company’s stock worth $1,260,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 88.10% of the company’s stock.
McKesson Company Profile
McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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