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McKesson (MCK) Rises But Trails Market: What Investors Should Know
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McKesson (MCK - Free Report) closed the latest trading day at $543.30, indicating a +0.62% change from the previous session's end. This change lagged the S&P 500's 1.02% gain on the day. Meanwhile, the Dow experienced a rise of 0.4%, and the technology-dominated Nasdaq saw an increase of 2.03%.
The prescription drug distributor's stock has climbed by 0.58% in the past month, exceeding the Medical sector's loss of 5.2% and the S&P 500's loss of 3.15%.
Investors will be eagerly watching for the performance of McKesson in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 7, 2024. On that day, McKesson is projected to report earnings of $6.34 per share, which would represent a year-over-year decline of 11.82%. Simultaneously, our latest consensus estimate expects the revenue to be $78.72 billion, showing a 14.23% escalation compared to the year-ago quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for McKesson. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 0.18% higher. McKesson presently features a Zacks Rank of #3 (Hold).
In the context of valuation, McKesson is at present trading with a Forward P/E ratio of 17.39. This represents a discount compared to its industry's average Forward P/E of 17.6.
Investors should also note that MCK has a PEG ratio of 1.43 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Medical - Dental Supplies industry was having an average PEG ratio of 1.8.
The Medical - Dental Supplies industry is part of the Medical sector. With its current Zacks Industry Rank of 71, this industry ranks in the top 29% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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McKesson (MCK) Rises But Trails Market: What Investors Should Know
McKesson (MCK - Free Report) closed the latest trading day at $543.30, indicating a +0.62% change from the previous session's end. This change lagged the S&P 500's 1.02% gain on the day. Meanwhile, the Dow experienced a rise of 0.4%, and the technology-dominated Nasdaq saw an increase of 2.03%.
The prescription drug distributor's stock has climbed by 0.58% in the past month, exceeding the Medical sector's loss of 5.2% and the S&P 500's loss of 3.15%.
Investors will be eagerly watching for the performance of McKesson in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 7, 2024. On that day, McKesson is projected to report earnings of $6.34 per share, which would represent a year-over-year decline of 11.82%. Simultaneously, our latest consensus estimate expects the revenue to be $78.72 billion, showing a 14.23% escalation compared to the year-ago quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for McKesson. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 0.18% higher. McKesson presently features a Zacks Rank of #3 (Hold).
In the context of valuation, McKesson is at present trading with a Forward P/E ratio of 17.39. This represents a discount compared to its industry's average Forward P/E of 17.6.
Investors should also note that MCK has a PEG ratio of 1.43 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Medical - Dental Supplies industry was having an average PEG ratio of 1.8.
The Medical - Dental Supplies industry is part of the Medical sector. With its current Zacks Industry Rank of 71, this industry ranks in the top 29% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.