McKesson (MCK) to Release Quarterly Earnings on Wednesday

McKesson (NYSE:MCK) will issue its quarterly earnings data after the market closes on Wednesday, August 7th. Analysts expect the company to announce earnings of $7.18 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

McKesson (NYSE:MCK) last posted its earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The company had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the business earned $7.19 earnings per share. On average, analysts expect McKesson to post $32 EPS for the current fiscal year and $36 EPS for the next fiscal year.

McKesson Price Performance

NYSE MCK opened at $612.99 on Tuesday. The firm’s fifty day moving average price is $588.74 and its 200 day moving average price is $547.53. The company has a market capitalization of $79.65 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 1.46 and a beta of 0.45. McKesson has a 12 month low of $404.72 and a 12 month high of $637.51.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is 11.08%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. UBS Group raised their price objective on shares of McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Evercore ISI raised their price objective on shares of McKesson from $600.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Barclays raised their price objective on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Finally, Morgan Stanley raised their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $599.33.

Insider Activity at McKesson

In related news, Director Maria Martinez sold 483 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McKesson news, Director Maria Martinez sold 483 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. Insiders sold 29,567 shares of company stock worth $16,691,841 over the last 90 days. Company insiders own 0.11% of the company’s stock.

About McKesson

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.