Jefferies Financial Group Weighs in on McKesson Co.’s Q1 2020 Earnings (MCK)
McKesson Co. (NYSE:MCK) – Equities research analysts at Jefferies Financial Group issued their Q1 2020 EPS estimates for shares of McKesson in a research note issued on Thursday, May 23rd. Jefferies Financial Group analyst B. Tanquilut anticipates that the company will earn $3.08 per share for the quarter. Jefferies Financial Group also issued estimates for McKesson’s Q2 2020 earnings at $3.65 EPS, Q3 2020 earnings at $3.45 EPS, Q4 2020 earnings at $4.02 EPS, FY2020 earnings at $14.20 EPS and FY2021 earnings at $15.25 EPS.
A number of other research analysts have also recently issued reports on MCK. ValuEngine raised shares of McKesson from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 8th. Zacks Investment Research raised shares of McKesson from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Wolfe Research began coverage on shares of McKesson in a report on Tuesday, April 2nd. They issued an “outperform” rating for the company. Barclays reaffirmed a “hold” rating and issued a $130.00 price target on shares of McKesson in a report on Friday, February 1st. Finally, Deutsche Bank raised shares of McKesson from a “sell” rating to a “hold” rating and set a $175.00 price target for the company in a report on Friday, January 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. McKesson currently has a consensus rating of “Hold” and a consensus price target of $134.90.
McKesson (NYSE:MCK) last announced its earnings results on Wednesday, May 8th. The company reported $3.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.66 by $0.03. The company had revenue of $52.43 billion during the quarter, compared to the consensus estimate of $53.14 billion. McKesson had a net margin of 0.02% and a return on equity of 29.02%. McKesson’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $3.49 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, May 31st. This represents a $1.56 annualized dividend and a dividend yield of 1.20%. McKesson’s dividend payout ratio (DPR) is presently 11.50%.
In related news, EVP Lori A. Schechter sold 2,766 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $133.59, for a total transaction of $369,509.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of McKesson during the fourth quarter worth $215,791,000. Standard Life Aberdeen plc grew its position in shares of McKesson by 16.7% in the fourth quarter. Standard Life Aberdeen plc now owns 288,482 shares of the company’s stock valued at $32,039,000 after purchasing an additional 41,289 shares during the period. Northern Trust Corp grew its position in shares of McKesson by 1.3% in the fourth quarter. Northern Trust Corp now owns 2,369,712 shares of the company’s stock valued at $261,783,000 after purchasing an additional 30,134 shares during the period. Segall Bryant & Hamill LLC grew its position in shares of McKesson by 7.5% in the fourth quarter. Segall Bryant & Hamill LLC now owns 2,861 shares of the company’s stock valued at $316,000 after purchasing an additional 200 shares during the period. Finally, BlackRock Inc. grew its position in shares of McKesson by 2.3% in the fourth quarter. BlackRock Inc. now owns 15,773,706 shares of the company’s stock valued at $1,742,522,000 after purchasing an additional 358,982 shares during the period. 85.88% of the stock is owned by hedge funds and other institutional investors.
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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