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McKesson (MCK) Declines More Than Market: Some Information for Investors
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In the latest trading session, McKesson (MCK - Free Report) closed at $575.23, marking a -1.98% move from the previous day. This change lagged the S&P 500's daily loss of 0.88%. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq depreciated by 1.95%.
Shares of the prescription drug distributor witnessed a gain of 0.35% over the previous month, beating the performance of the Medical sector with its loss of 1.09% and underperforming the S&P 500's gain of 5.11%.
The investment community will be closely monitoring the performance of McKesson in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. The company is expected to report EPS of $7.16, down 1.51% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $83.36 billion, indicating a 11.92% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $31.47 per share and revenue of $354.8 billion, which would represent changes of +14.69% and +14.84%, respectively, from the prior year.
Any recent changes to analyst estimates for McKesson should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% decrease. Right now, McKesson possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, McKesson is holding a Forward P/E ratio of 18.65. This expresses a premium compared to the average Forward P/E of 17.91 of its industry.
We can additionally observe that MCK currently boasts a PEG ratio of 1.38. 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. Medical - Dental Supplies stocks are, on average, holding a PEG ratio of 1.96 based on yesterday's closing prices.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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McKesson (MCK) Declines More Than Market: Some Information for Investors
In the latest trading session, McKesson (MCK - Free Report) closed at $575.23, marking a -1.98% move from the previous day. This change lagged the S&P 500's daily loss of 0.88%. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq depreciated by 1.95%.
Shares of the prescription drug distributor witnessed a gain of 0.35% over the previous month, beating the performance of the Medical sector with its loss of 1.09% and underperforming the S&P 500's gain of 5.11%.
The investment community will be closely monitoring the performance of McKesson in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. The company is expected to report EPS of $7.16, down 1.51% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $83.36 billion, indicating a 11.92% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $31.47 per share and revenue of $354.8 billion, which would represent changes of +14.69% and +14.84%, respectively, from the prior year.
Any recent changes to analyst estimates for McKesson should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% decrease. Right now, McKesson possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, McKesson is holding a Forward P/E ratio of 18.65. This expresses a premium compared to the average Forward P/E of 17.91 of its industry.
We can additionally observe that MCK currently boasts a PEG ratio of 1.38. 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. Medical - Dental Supplies stocks are, on average, holding a PEG ratio of 1.96 based on yesterday's closing prices.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.