McKesson Corporation Expected to Earn Q4 2018 Earnings of $3.78 Per Share (MCK)

McKesson Corporation (NYSE:MCK) – Stock analysts at Leerink Swann boosted their Q4 2018 earnings per share (EPS) estimates for shares of McKesson Corporation in a research report issued on Thursday. Leerink Swann analyst D. Larsen now forecasts that the company will post earnings of $3.78 per share for the quarter, up from their previous forecast of $3.75. Leerink Swann currently has a “Market Perform” rating and a $170.00 price target on the stock.

McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. The company had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.50 EPS.

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A number of other analysts also recently weighed in on MCK. Jefferies Group LLC started coverage on shares of McKesson Corporation in a report on Wednesday, May 17th. They issued a “hold” rating and a $153.00 price target for the company. UBS AG raised their price objective on shares of McKesson Corporation from $145.00 to $156.00 and gave the stock a “neutral” rating in a report on Friday, May 19th. Vetr downgraded shares of McKesson Corporation from a “buy” rating to a “hold” rating and set a $157.10 price objective for the company. in a report on Monday, May 22nd. J P Morgan Chase & Co raised shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price objective for the company in a report on Tuesday, May 23rd. Finally, Zacks Investment Research raised shares of McKesson Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $172.31.

Shares of McKesson Corporation (NYSE MCK) opened at 156.94 on Monday. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $181.82. The stock has a 50 day moving average of $153.75 and a 200-day moving average of $152.84. The firm has a market cap of $33.00 billion, a price-to-earnings ratio of 7.12 and a beta of 1.16.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a dividend of $0.34 per share. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a yield of 0.87%. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is currently 6.07%.

In other McKesson Corporation news, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $162.55, for a total value of $176,041.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of the firm’s stock in a transaction dated 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. Insiders have sold a total of 3,066 shares of company stock valued at $473,627 over the last three months. 1.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of MCK. Shikiar Asset Management Inc. increased its position in McKesson Corporation by 26.1% in the 1st quarter. Shikiar Asset Management Inc. now owns 35,630 shares of the company’s stock valued at $5,283,000 after acquiring an additional 7,375 shares in the last quarter. Tocqueville Asset Management L.P. increased its position in McKesson Corporation by 8.8% in the 1st quarter. Tocqueville Asset Management L.P. now owns 5,001 shares of the company’s stock valued at $741,000 after acquiring an additional 406 shares in the last quarter. Canal Capital Management LLC acquired a new stake in McKesson Corporation in the 1st quarter valued at about $483,000. Advisor Partners LLC increased its position in McKesson Corporation by 22.1% in the 1st quarter. Advisor Partners LLC now owns 4,552 shares of the company’s stock valued at $675,000 after acquiring an additional 823 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in McKesson Corporation in the 1st quarter valued at about $314,000. Hedge funds and other institutional investors own 85.28% of the company’s stock.

About McKesson Corporation

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.

Earnings History and Estimates for McKesson Corporation (NYSE:MCK)

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