McKesson (NYSE:MCK) Issues FY 2021 Pre-Market Earnings Guidance

McKesson (NYSE:MCK) updated its FY 2021
Pre-Market earnings guidance on Wednesday. The company provided earnings per share guidance of 13.95-14.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $15.46. The company issued revenue guidance of $235.672-240.293 billion, compared to the consensus revenue estimate of $235.7 billion.McKesson also updated its FY21 guidance to $13.95-14.75 EPS.

A number of research firms have weighed in on MCK. ValuEngine lowered shares of McKesson from a sell rating to a strong sell rating in a research report on Friday, May 1st. Cfra dropped their target price on shares of McKesson from $179.00 to $171.00 and set a buy rating for the company in a report on Wednesday. Credit Suisse Group began coverage on McKesson in a research note on Wednesday, April 22nd. They issued a neutral rating and a $146.00 price target for the company. Deutsche Bank lowered their price objective on McKesson from $173.00 to $169.00 and set a hold rating on the stock in a research report on Thursday. Finally, UBS Group raised McKesson from a neutral rating to a buy rating and upped their price objective for the stock from $151.00 to $160.00 in a research note on Friday, May 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $168.50.

NYSE:MCK opened at $149.42 on Friday. The business’s 50-day moving average is $136.14 and its 200 day moving average is $142.81. McKesson has a 12 month low of $112.60 and a 12 month high of $172.18. The company has a market capitalization of $25.80 billion, a P/E ratio of 29.13, a P/E/G ratio of 1.60 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.56 and a debt-to-equity ratio of 1.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, May 20th. The company reported $4.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.10 by $0.17. The business had revenue of $58.54 billion for the quarter, compared to the consensus estimate of $55.60 billion. McKesson had a return on equity of 41.07% and a net margin of 0.39%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.69 EPS. On average, research analysts forecast that McKesson will post 15.01 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Friday, May 29th. McKesson’s dividend payout ratio is presently 10.97%.

In other McKesson news, CEO Brian S. Tyler sold 4,063 shares of McKesson stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $135.00, for a total value of $548,505.00. Following the completion of the transaction, the chief executive officer now directly owns 16,255 shares of the company’s stock, valued at approximately $2,194,425. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 8,187 shares of company stock valued at $1,064,057 in the last quarter. 0.88% of the stock is owned by company insiders.

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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