Wall Street brokerages expect that McKesson (NYSE:MCK) will report earnings of $3.54 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for McKesson’s earnings. The lowest EPS estimate is $3.35 and the highest is $3.61. McKesson posted earnings of $3.39 per share during the same quarter last year, which suggests a positive year over year growth rate of 4.4%. The company is expected to report its next earnings report on Thursday, May 17th.
On average, analysts expect that McKesson will report full-year earnings of $12.69 per share for the current fiscal year, with EPS estimates ranging from $12.50 to $12.79. For the next financial year, analysts anticipate that the company will report earnings of $13.43 per share, with EPS estimates ranging from $13.11 to $13.74. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for McKesson.
McKesson (NYSE:MCK) last issued its earnings results on Thursday, February 1st. The company reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.49. The company had revenue of $53.62 billion during the quarter, compared to analyst estimates of $51.98 billion. McKesson had a net margin of 2.34% and a return on equity of 22.98%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $3.04 EPS.
A number of equities research analysts have issued reports on the stock. Bank of America decreased their target price on shares of McKesson from $179.00 to $172.00 and set a “buy” rating for the company in a research note on Wednesday. Barclays assumed coverage on shares of McKesson in a research note on Thursday, March 8th. They set an “equal weight” rating and a $165.00 target price for the company. Zacks Investment Research lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. ValuEngine lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Credit Suisse Group reissued a “sell” rating and set a $130.00 target price on shares of McKesson in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $176.32.
Shares of NYSE:MCK traded down $1.09 during trading on Friday, reaching $142.85. 1,601,209 shares of the company traded hands, compared to its average volume of 1,705,732. The firm has a market capitalization of $29,700.48, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.32 and a beta of 1.32. McKesson has a 1-year low of $133.82 and a 1-year high of $178.86. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 1st were issued a dividend of $0.34 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.95%. McKesson’s dividend payout ratio is currently 11.71%.
In related news, SVP Erin M. Lampert sold 1,413 shares of McKesson stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $149.38, for a total value of $211,073.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. IFM Investors Pty Ltd bought a new position in McKesson in the 3rd quarter worth $914,000. Legacy Capital Partners Inc. raised its holdings in McKesson by 11.5% in the 4th quarter. Legacy Capital Partners Inc. now owns 3,303 shares of the company’s stock worth $515,000 after acquiring an additional 340 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in McKesson by 1.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 85,203 shares of the company’s stock worth $13,287,000 after acquiring an additional 1,537 shares during the period. Cornerstone Wealth Management LLC bought a new position in McKesson in the 4th quarter worth $311,000. Finally, Rhumbline Advisers raised its holdings in McKesson by 1.3% in the 4th quarter. Rhumbline Advisers now owns 405,094 shares of the company’s stock worth $63,174,000 after acquiring an additional 5,389 shares during the period. Hedge funds and other institutional investors own 88.66% of the company’s stock.
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McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. The company operates in two segments, McKesson Distribution Solutions and McKesson Technology Solutions. The McKesson Distribution Solutions segment distributes branded and generic pharmaceutical drugs, and other healthcare-related products; and provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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