Brokerages Anticipate McKesson Co. (NYSE:MCK) Will Announce Quarterly Sales of $65.93 Billion

Equities research analysts forecast that McKesson Co. (NYSE:MCK) will report sales of $65.93 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for McKesson’s earnings, with the lowest sales estimate coming in at $65.65 billion and the highest estimate coming in at $66.26 billion. McKesson reported sales of $62.60 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.3%. The firm is scheduled to announce its next earnings results on Tuesday, February 1st.

According to Zacks, analysts expect that McKesson will report full-year sales of $258.96 billion for the current fiscal year, with estimates ranging from $257.64 billion to $259.88 billion. For the next financial year, analysts anticipate that the company will report sales of $264.26 billion, with estimates ranging from $257.86 billion to $271.80 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for McKesson.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Sunday, October 31st. The company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $4.66 by $1.49. The business had revenue of $66.58 billion during the quarter, compared to the consensus estimate of $63.23 billion. McKesson had a negative net margin of 1.92% and a negative return on equity of 5,793.16%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.80 EPS.

Several equities analysts have issued reports on the stock. Bank of America boosted their price objective on shares of McKesson from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, November 2nd. Barclays boosted their price objective on shares of McKesson from $255.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, November 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of McKesson from $261.00 to $279.00 and gave the company a “buy” rating in a research note on Wednesday, November 3rd. Jefferies Financial Group boosted their price objective on shares of McKesson from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, November 2nd. Finally, Robert W. Baird boosted their price objective on shares of McKesson from $254.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, November 2nd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $255.25.

MCK stock traded down $0.43 on Friday, hitting $226.02. The company’s stock had a trading volume of 867,876 shares, compared to its average volume of 1,017,181. The firm has a 50 day moving average of $209.82 and a two-hundred day moving average of $201.51. McKesson has a 1 year low of $169.09 and a 1 year high of $229.13. The stock has a market cap of $34.51 billion, a price-to-earnings ratio of -7.51, a price-to-earnings-growth ratio of 1.10 and a beta of 0.79. The company has a current ratio of 0.99, a quick ratio of 0.57 and a debt-to-equity ratio of 82.70.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 3rd. Investors of record on Wednesday, December 1st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, November 30th. This represents a $1.88 dividend on an annualized basis and a yield of 0.83%. McKesson’s payout ratio is -6.25%.

In other news, EVP Lori A. Schechter sold 5,488 shares of the stock in a transaction dated Wednesday, November 3rd. The shares were sold at an average price of $225.00, for a total transaction of $1,234,800.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Tracy Faber sold 8,426 shares of the stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $222.92, for a total transaction of $1,878,323.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,876 shares of company stock worth $15,861,964. 0.28% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in MCK. Patriot Financial Group Insurance Agency LLC lifted its stake in McKesson by 39.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 503 shares of the company’s stock valued at $100,000 after buying an additional 143 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in McKesson by 8.1% during the third quarter. Bank of New York Mellon Corp now owns 1,910,279 shares of the company’s stock worth $380,870,000 after acquiring an additional 143,427 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in McKesson during the third quarter worth about $785,000. Wealth Quarterback LLC grew its holdings in McKesson by 618.0% during the third quarter. Wealth Quarterback LLC now owns 3,382 shares of the company’s stock worth $79,000 after acquiring an additional 2,911 shares during the period. Finally, Cetera Investment Advisers increased its stake in McKesson by 8.9% in the 3rd quarter. Cetera Investment Advisers now owns 8,459 shares of the company’s stock worth $1,687,000 after purchasing an additional 692 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

McKesson Company Profile

McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical; International; Medical-Surgical Solutions; and Prescription Technology Solutions (“RxTS“).

Recommended Story: Technical Analysis of Stocks and What It Means

Get a free copy of the Zacks research report on McKesson (MCK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.