McKesson (MCK) Releases Earnings Results, Misses Expectations By $0.07 EPS

McKesson (NYSE:MCK) posted its earnings results on Thursday. The company reported $3.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.56 by ($0.07), Bloomberg Earnings reports. The firm had revenue of $51.63 billion for the quarter, compared to analysts’ expectations of $51.36 billion. McKesson had a return on equity of 23.55% and a net margin of 0.03%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.41 earnings per share. McKesson updated its FY19 guidance to $13.00-13.80 EPS.

Shares of NYSE MCK opened at $145.81 on Friday. McKesson has a fifty-two week low of $134.25 and a fifty-two week high of $178.86. The company has a market cap of $29.72 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.32 and a beta of 1.31. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 0.67.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 1st will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, May 31st. McKesson’s dividend payout ratio is 10.78%.

A number of analysts have recently weighed in on the stock. Credit Suisse Group reiterated a “sell” rating and set a $130.00 target price on shares of McKesson in a report on Friday, February 2nd. Mizuho lowered their price objective on shares of McKesson from $186.00 to $179.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $189.00 price objective for the company in a report on Friday, February 2nd. Bank of America began coverage on shares of McKesson in a report on Tuesday, February 27th. They issued a “buy” rating and a $179.00 price objective for the company. Finally, Barclays began coverage on shares of McKesson in a report on Thursday, March 8th. They issued an “equal weight” rating and a $165.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $175.53.

In other McKesson news, SVP Erin M. Lampert sold 1,413 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $149.38, for a total transaction of $211,073.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by company insiders.

About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. The company operates in two segments, McKesson Distribution Solutions and McKesson Technology Solutions. The McKesson Distribution Solutions segment distributes branded and generic pharmaceutical drugs, and other healthcare-related products; and provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

Earnings History for McKesson (NYSE:MCK)

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