McKesson (NYSE:MCK) Updates FY20 Earnings Guidance

McKesson (NYSE:MCK) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $14.00-14.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $14.12. McKesson also updated its FY 2019 guidance to $14.00-14.60 EPS.

MCK stock traded down $3.57 during midday trading on Wednesday, reaching $138.95. 1,454,347 shares of the stock were exchanged, compared to its average volume of 1,446,049. The company has a market cap of $26.22 billion, a PE ratio of 10.24, a PEG ratio of 1.42 and a beta of 1.11. McKesson has a 52 week low of $106.11 and a 52 week high of $148.23. The company has a quick ratio of 0.58, a current ratio of 1.02 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average of $137.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, May 8th. The company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $0.03. McKesson had a return on equity of 29.02% and a net margin of 0.02%. The firm had revenue of $52.43 billion for the quarter, compared to analyst estimates of $53.14 billion. During the same quarter in the previous year, the company posted $3.49 EPS. The business’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts expect that McKesson will post 14.17 EPS for the current year.

Several equities research analysts recently commented on MCK shares. Guggenheim started coverage on McKesson in a research report on Monday, July 22nd. They set a neutral rating and a $152.00 target price on the stock. ValuEngine upgraded McKesson from a strong sell rating to a sell rating in a research report on Wednesday, May 8th. Credit Suisse Group started coverage on McKesson in a research report on Monday, July 22nd. They set a neutral rating and a $143.00 target price on the stock. JPMorgan Chase & Co. started coverage on McKesson in a research report on Monday, July 22nd. They set an overweight rating and a $164.00 target price on the stock. Finally, Wolfe Research started coverage on McKesson in a research report on Tuesday, April 2nd. They set an outperform rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $146.00.

In related news, EVP Lori A. Schechter sold 2,766 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $133.59, for a total transaction of $369,509.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Britt J. Vitalone sold 832 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $129.17, for a total value of $107,469.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,174 shares of company stock valued at $804,583. Company insiders own 0.88% of the company’s stock.

McKesson Company Profile

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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Earnings History and Estimates for McKesson (NYSE:MCK)

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