McKesson (MCK) Expected to Announce Earnings on Wednesday

McKesson (NYSE:MCK) is projected to announce its earnings results after the market closes on Wednesday, February 5th. Analysts expect the company to announce earnings of $8.60 per share and revenue of $95.86 billion for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the firm posted $6.23 earnings per share. The business’s revenue was up 21.3% on a year-over-year basis. On average, analysts expect McKesson to post $33 EPS for the current fiscal year and $37 EPS for the next fiscal year.

McKesson Price Performance

MCK opened at $600.43 on Tuesday. The stock’s 50 day moving average price is $590.79 and its 200 day moving average price is $561.94. The stock has a market cap of $76.22 billion, a P/E ratio of 31.09, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is currently 14.71%.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MCK shares. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Finally, Morgan Stanley raised their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.