$51.98 Billion in Sales Expected for McKesson Corporation (MCK) This Quarter
Equities research analysts predict that McKesson Corporation (NYSE:MCK) will announce $51.98 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for McKesson Corporation’s earnings, with the lowest sales estimate coming in at $51.51 billion and the highest estimate coming in at $52.46 billion. McKesson Corporation reported sales of $50.13 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.7%. The firm is expected to report its next quarterly earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that McKesson Corporation will report full year sales of $51.98 billion for the current financial year, with estimates ranging from $204.58 billion to $205.95 billion. For the next financial year, analysts expect that the company will post sales of $209.00 billion per share, with estimates ranging from $203.19 billion to $211.93 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover McKesson Corporation.
McKesson Corporation (NYSE:MCK) last issued its quarterly earnings results on Thursday, October 26th. The company reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.50. McKesson Corporation had a return on equity of 24.87% and a net margin of 2.24%. The firm had revenue of $52.06 billion for the quarter, compared to analysts’ expectations of $51.69 billion. During the same period in the previous year, the firm posted $2.94 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year.
Several equities analysts recently issued reports on the company. BidaskClub cut McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Robert W. Baird raised McKesson Corporation from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $175.00 to $178.00 in a research report on Tuesday, September 19th. Mizuho set a $168.00 price objective on McKesson Corporation and gave the company a “hold” rating in a research report on Tuesday, October 24th. TheStreet cut McKesson Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Finally, ValuEngine raised McKesson Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. McKesson Corporation currently has a consensus rating of “Hold” and a consensus price target of $174.27.
In other McKesson Corporation news, Chairman John H. Hammergren sold 225,000 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $151.67, for a total transaction of $34,125,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Erin M. Lampert sold 900 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 949,900 shares of company stock valued at $145,403,445. Company insiders own 1.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its stake in McKesson Corporation by 8.0% during the 2nd quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock valued at $2,522,396,000 after buying an additional 1,131,024 shares during the last quarter. Vanguard Group Inc. raised its stake in McKesson Corporation by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 14,090,544 shares of the company’s stock valued at $2,318,457,000 after buying an additional 62,004 shares during the last quarter. Ballentine Partners LLC purchased a new stake in McKesson Corporation during the 1st quarter valued at $191,000. Bank of New York Mellon Corp raised its stake in McKesson Corporation by 6.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,540,305 shares of the company’s stock valued at $390,217,000 after buying an additional 154,967 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in shares of McKesson Corporation by 17.2% in the 3rd quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock worth $377,655,000 after purchasing an additional 360,676 shares in the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.
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Shares of McKesson Corporation (MCK) opened at $145.80 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61. McKesson Corporation has a 12-month low of $133.82 and a 12-month high of $169.29. The company has a market capitalization of $30,395.58, a P/E ratio of 11.99, a PEG ratio of 1.50 and a beta of 1.21.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.93%. McKesson Corporation’s dividend payout ratio is presently 6.45%.
McKesson Corporation Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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