McKesson (MCK) Scheduled to Post Earnings on Tuesday

McKesson (NYSE:MCK - Get Free Report) will 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.Individual that are interested in registering for the company's earnings conference call can do so using this link.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping the consensus estimate of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm's revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $6.90 earnings per share. On average, analysts expect McKesson to post $28 EPS for the current fiscal year and $31 EPS for the next fiscal year.

McKesson Stock Up 0.2 %

MCK traded up $1.12 on Tuesday, hitting $537.21. The company had a trading volume of 664,707 shares, compared to its average volume of 692,815. The company has a market cap of $70.59 billion, a PE ratio of 24.34, a PEG ratio of 1.44 and a beta of 0.45. McKesson has a 12-month low of $352.34 and a 12-month high of $544.81. The business's fifty day simple moving average is $529.26 and its 200 day simple moving average is $491.02.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 0.46%. McKesson's dividend payout ratio is currently 11.24%.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the business's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company's stock, valued at $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Leann B. Smith sold 186 shares of the business's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company's stock, valued at $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

MCK has been the subject of several recent analyst reports. Barclays assumed coverage on McKesson in a research report on Wednesday, January 3rd. They set an "overweight" rating and a $537.00 target price for the company. Mizuho boosted their price objective on shares of McKesson from $450.00 to $505.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. Leerink Partnrs reissued an "outperform" rating on shares of McKesson in a research note on Monday, February 26th. Citigroup boosted their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, SVB Leerink assumed coverage on shares of McKesson in a research note on Monday, February 26th. They issued an "outperform" rating and a $600.00 price objective 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.