McKesson (MCK) to Release Quarterly Earnings on Tuesday

McKesson (NYSE:MCK) is set to post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect McKesson to post 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.Parties that wish to register for the company’s conference call can do so using this link.

McKesson (NYSE:MCK) last announced 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 negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter in the previous year, the business earned $6.90 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts expect McKesson to post $28 EPS for the current fiscal year and $31 EPS for the next fiscal year.

McKesson Stock Performance

NYSE:MCK opened at $536.09 on Tuesday. The stock’s fifty day moving average is $528.65 and its 200 day moving average is $490.49. The firm has a market capitalization of $70.45 billion, a PE ratio of 24.29, a PEG ratio of 1.44 and a beta of 0.45. McKesson has a fifty-two week low of $352.34 and a fifty-two week high of $544.81.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays started coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target on the stock. Mizuho increased their price target on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Morgan Stanley boosted their price objective on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Citigroup upped their price objective on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Finally, UBS Group lifted their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $533.50.

Insider Transactions at McKesson

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 sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.