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

McKesson (NYSE:MCK) announced its quarterly earnings data on Wednesday. The company reported $8.03 earnings per share 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

NYSE MCK traded up $2.05 on Wednesday, reaching $605.37. The company’s stock had a trading volume of 1,352,177 shares, compared to its average volume of 719,278. McKesson has a twelve month low of $464.42 and a twelve month high of $637.51. The firm’s 50 day moving average is $590.03 and its two-hundred day moving average is $562.26. The stock has a market cap of $76.85 billion, a PE ratio of 31.35, a PEG ratio of 1.29 and a beta of 0.52.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is currently 14.71%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MCK. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Finally, Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

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.