We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
McKesson (MCK) Beats Stock Market Upswing: What Investors Need to Know
Read MoreHide Full Article
McKesson (MCK - Free Report) closed the most recent trading day at $508.95, moving +0.3% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.27%. Elsewhere, the Dow saw an upswing of 0.65%, while the tech-heavy Nasdaq appreciated by 0.26%.
The the stock of prescription drug distributor has risen by 3.92% in the past month, leading the Medical sector's loss of 4.14% and the S&P 500's gain of 2%.
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 November 6, 2024. The company's earnings per share (EPS) are projected to be $6.89, reflecting a 10.59% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $89.48 billion, showing a 15.89% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $31.92 per share and a revenue of $353.06 billion, signifying shifts of +16.33% and +14.28%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for McKesson. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.48% fall in the Zacks Consensus EPS estimate. McKesson currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, McKesson is holding a Forward P/E ratio of 15.9. Its industry sports an average Forward P/E of 16.65, so one might conclude that McKesson is trading at a discount comparatively.
Meanwhile, MCK's PEG ratio is currently 1.19. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Medical - Dental Supplies industry stood at 1.78 at the close of the market yesterday.
The Medical - Dental Supplies industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 100, positioning it in the top 40% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MCK in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
McKesson (MCK) Beats Stock Market Upswing: What Investors Need to Know
McKesson (MCK - Free Report) closed the most recent trading day at $508.95, moving +0.3% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.27%. Elsewhere, the Dow saw an upswing of 0.65%, while the tech-heavy Nasdaq appreciated by 0.26%.
The the stock of prescription drug distributor has risen by 3.92% in the past month, leading the Medical sector's loss of 4.14% and the S&P 500's gain of 2%.
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 November 6, 2024. The company's earnings per share (EPS) are projected to be $6.89, reflecting a 10.59% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $89.48 billion, showing a 15.89% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $31.92 per share and a revenue of $353.06 billion, signifying shifts of +16.33% and +14.28%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for McKesson. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.48% fall in the Zacks Consensus EPS estimate. McKesson currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, McKesson is holding a Forward P/E ratio of 15.9. Its industry sports an average Forward P/E of 16.65, so one might conclude that McKesson is trading at a discount comparatively.
Meanwhile, MCK's PEG ratio is currently 1.19. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Medical - Dental Supplies industry stood at 1.78 at the close of the market yesterday.
The Medical - Dental Supplies industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 100, positioning it in the top 40% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MCK in the coming trading sessions, be sure to utilize Zacks.com.