Equities research analysts expect McKesson Co. (NYSE:MCK) to post earnings per share of $2.75 for the current quarter, Zacks reports. Seven analysts have made estimates for McKesson’s earnings. The lowest EPS estimate is $2.51 and the highest is $2.91. McKesson reported earnings per share of $2.46 in the same quarter last year, which suggests a positive year-over-year growth rate of 11.8%. The company is expected to announce its next quarterly earnings report on Thursday, July 26th.
According to Zacks, analysts expect that McKesson will report full-year earnings of $13.35 per share for the current year, with EPS estimates ranging from $13.24 to $13.50. For the next year, analysts forecast that the business will report earnings of $14.49 per share, with EPS estimates ranging from $14.00 to $14.95. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow McKesson.
McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 24th. The company reported $3.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.56 by ($0.07). The company had revenue of $51.63 billion during the quarter, compared to the consensus estimate of $51.36 billion. McKesson had a net margin of 0.03% and a return on equity of 23.55%. McKesson’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.41 earnings per share.
MCK has been the topic of a number of recent research reports. ValuEngine lowered shares of McKesson from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. Leerink Swann set a $160.00 price target on shares of McKesson and gave the stock a “market perform” rating in a research report on Tuesday, May 29th. Barclays initiated coverage on shares of McKesson in a research report on Thursday, March 8th. They set an “equal weight” rating and a $165.00 price target on the stock. Royal Bank of Canada lowered their price target on shares of McKesson to $158.00 and set a “market perform” rating on the stock in a research report on Friday, June 29th. Finally, Bank of America lowered their price target on shares of McKesson from $179.00 to $172.00 and set a “buy” rating on the stock in a research report on Wednesday, April 11th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $172.70.
In other McKesson news, SVP Erin M. Lampert sold 868 shares of the stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $142.00, for a total transaction of $123,256.00. Following the sale, the senior vice president now directly owns 64 shares in the company, valued at $9,088. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.87% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Boston Partners boosted its stake in shares of McKesson by 122.4% in the 1st quarter. Boston Partners now owns 4,036,373 shares of the company’s stock valued at $568,604,000 after purchasing an additional 2,221,241 shares in the last quarter. Vulcan Value Partners LLC boosted its stake in shares of McKesson by 9.2% in the 4th quarter. Vulcan Value Partners LLC now owns 3,612,389 shares of the company’s stock valued at $563,352,000 after purchasing an additional 305,492 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of McKesson by 1.4% in the 1st quarter. Pzena Investment Management LLC now owns 2,635,648 shares of the company’s stock valued at $371,284,000 after purchasing an additional 35,247 shares in the last quarter. Kiltearn Partners LLP boosted its stake in shares of McKesson by 6.3% in the 1st quarter. Kiltearn Partners LLP now owns 1,914,898 shares of the company’s stock valued at $269,350,000 after purchasing an additional 112,800 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of McKesson by 13.3% in the 1st quarter. Wells Fargo & Company MN now owns 1,859,883 shares of the company’s stock valued at $262,000,000 after purchasing an additional 218,530 shares in the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.
Shares of McKesson opened at $136.04 on Tuesday, according to Marketbeat. The stock has a market capitalization of $27.15 billion, a PE ratio of 10.65, a P/E/G ratio of 1.26 and a beta of 1.29. McKesson has a fifty-two week low of $131.43 and a fifty-two week high of $178.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 1.01.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 2nd. Shareholders of record on Friday, June 1st were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, May 31st. This represents a $1.36 dividend on an annualized basis and a yield of 1.00%. McKesson’s payout ratio is 10.78%.
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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