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McKesson (MCK) Gains As Market Dips: What You Should Know
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McKesson (MCK - Free Report) closed the most recent trading day at $376.50, moving +0.39% from the previous trading session. This change outpaced the S&P 500's 0.07% loss on the day. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq lost 3.22%.
Prior to today's trading, shares of the prescription drug distributor had lost 2.25% over the past month. This has lagged the Medical sector's loss of 0.32% and the S&P 500's gain of 4.64% in that time.
Wall Street will be looking for positivity from McKesson as it approaches its next earnings report date. This is expected to be February 1, 2023. On that day, McKesson is projected to report earnings of $6.34 per share, which would represent year-over-year growth of 3.09%. Our most recent consensus estimate is calling for quarterly revenue of $70.48 billion, up 2.72% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $24.78 per share and revenue of $275.58 billion, which would represent changes of +4.6% and +4.4%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for McKesson. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. McKesson is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, McKesson is holding a Forward P/E ratio of 15.14. This valuation marks a discount compared to its industry's average Forward P/E of 20.48.
We can also see that MCK currently has a PEG ratio of 1.5. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MCK's industry had an average PEG ratio of 2.23 as of yesterday's close.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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McKesson (MCK) Gains As Market Dips: What You Should Know
McKesson (MCK - Free Report) closed the most recent trading day at $376.50, moving +0.39% from the previous trading session. This change outpaced the S&P 500's 0.07% loss on the day. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq lost 3.22%.
Prior to today's trading, shares of the prescription drug distributor had lost 2.25% over the past month. This has lagged the Medical sector's loss of 0.32% and the S&P 500's gain of 4.64% in that time.
Wall Street will be looking for positivity from McKesson as it approaches its next earnings report date. This is expected to be February 1, 2023. On that day, McKesson is projected to report earnings of $6.34 per share, which would represent year-over-year growth of 3.09%. Our most recent consensus estimate is calling for quarterly revenue of $70.48 billion, up 2.72% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $24.78 per share and revenue of $275.58 billion, which would represent changes of +4.6% and +4.4%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for McKesson. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. McKesson is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, McKesson is holding a Forward P/E ratio of 15.14. This valuation marks a discount compared to its industry's average Forward P/E of 20.48.
We can also see that MCK currently has a PEG ratio of 1.5. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MCK's industry had an average PEG ratio of 2.23 as of yesterday's close.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.