Brokerages expect McKesson Co. (NYSE:MCK) to post $55.27 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for McKesson’s earnings. The highest sales estimate is $55.71 billion and the lowest is $54.91 billion. McKesson reported sales of $53.62 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 7th.
According to Zacks, analysts expect that McKesson will report full-year sales of $214.79 billion for the current financial year, with estimates ranging from $213.45 billion to $216.32 billion. For the next fiscal year, analysts expect that the business will post sales of $220.49 billion, with estimates ranging from $216.19 billion to $225.53 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover McKesson.
McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, October 25th. The company reported $3.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.28 by $0.32. McKesson had a net margin of 0.06% and a return on equity of 26.55%. The company had revenue of $53.08 billion for the quarter, compared to the consensus estimate of $53.56 billion.
MCK has been the topic of several research reports. Citigroup cut their price target on shares of McKesson from $160.00 to $2.86 and set a “buy” rating on the stock in a report on Friday, July 20th. Robert W. Baird downgraded shares of McKesson from an “outperform” rating to a “neutral” rating in a report on Friday, July 20th. Royal Bank of Canada reiterated a “hold” rating and issued a $152.00 price target on shares of McKesson in a report on Friday, July 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $160.00 price target on shares of McKesson in a report on Friday, July 27th. Finally, JPMorgan Chase & Co. cut their price target on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $150.26.
In other news, Director N Anthony Coles sold 1,350 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $128.69, for a total transaction of $173,731.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.87% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of MCK. State of Alaska Department of Revenue grew its stake in shares of McKesson by 20.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 30,846 shares of the company’s stock worth $4,112,000 after purchasing an additional 5,180 shares during the period. Xact Kapitalforvaltning AB grew its stake in shares of McKesson by 4.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 44,279 shares of the company’s stock worth $5,907,000 after purchasing an additional 1,803 shares during the period. Raymond James Trust N.A. grew its stake in shares of McKesson by 2.5% during the 2nd quarter. Raymond James Trust N.A. now owns 15,079 shares of the company’s stock worth $2,012,000 after purchasing an additional 371 shares during the period. Campbell & CO Investment Adviser LLC grew its stake in shares of McKesson by 127.6% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 5,096 shares of the company’s stock worth $680,000 after purchasing an additional 2,857 shares during the period. Finally, Fox Run Management L.L.C. grew its stake in shares of McKesson by 249.7% during the 2nd quarter. Fox Run Management L.L.C. now owns 6,070 shares of the company’s stock worth $810,000 after purchasing an additional 4,334 shares during the period. 89.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:MCK opened at $130.81 on Friday. McKesson has a twelve month low of $117.19 and a twelve month high of $178.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.56 and a current ratio of 0.99. The company has a market capitalization of $25.13 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, November 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.19%. McKesson’s payout ratio is 12.36%.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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