McKesson (MCK) Scheduled to Post Earnings on Tuesday

McKesson (NYSE:MCK) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $6.39 per share for the quarter. McKesson has set its FY24 guidance at $27.25-$27.65 EPS and its FY 2024 guidance at 27.250-27.650 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $6.90 earnings per share. On average, analysts expect McKesson to post $28 EPS for the current fiscal year and $31 EPS for the next fiscal year.

McKesson Stock Down 0.3 %

NYSE MCK opened at $528.86 on Monday. McKesson has a twelve month low of $352.34 and a twelve month high of $544.81. The stock has a market cap of $69.50 billion, a P/E ratio of 23.96, a PEG ratio of 1.41 and a beta of 0.45. The company’s 50-day simple moving average is $530.38 and its 200 day simple moving average is $492.60.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, May 31st. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MCK has been the topic of several analyst reports. Citigroup upped their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Argus raised their price objective on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. SVB Leerink initiated coverage on McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. Morgan Stanley raised their price target on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, UBS Group boosted their price objective on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $536.71.

McKesson Company Profile

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.