McKesson (NYSE:MCK) Releases Quarterly Earnings Results, Misses Estimates By $0.57 EPS

McKesson (NYSE:MCK) released its quarterly earnings data on Wednesday. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57), Zacks reports. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%.

McKesson Stock Performance

Shares of MCK traded down $0.73 during midday trading on Friday, hitting $599.03. 276,454 shares of the stock were exchanged, compared to its average volume of 746,484. The firm has a market cap of $76.04 billion, a P/E ratio of 31.00, a P/E/G ratio of 1.29 and a beta of 0.52. The stock has a fifty day simple moving average of $589.05 and a 200 day simple moving average of $562.81. McKesson has a 52-week low of $464.42 and a 52-week high of $637.51.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 13.00%.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $645.79.

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.