McKesson (MCK) Set to Announce Quarterly Earnings on Tuesday

McKesson (NYSE:MCK) is scheduled to be announcing its earnings results 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 interested in listening 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, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter last year, the company earned $6.90 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. On average, analysts expect McKesson to post $28 EPS for the current fiscal year and $31 EPS for the next fiscal year.

McKesson Trading Down 0.3 %

Shares of NYSE:MCK opened at $528.86 on Monday. The stock has a market capitalization of $69.50 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. The stock’s 50-day moving average price is $530.38 and its 200-day moving average price is $492.60. McKesson has a 12-month low of $352.34 and a 12-month high of $544.81.

McKesson Announces Dividend

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

Insider Activity

In other news, EVP Leann B. Smith sold 186 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Argus raised their price target on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Mizuho upped their price target on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Morgan Stanley increased their price objective on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, SVB Leerink assumed coverage on McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $536.71.

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.