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McKesson (MCK) Increases Yet Falls Behind Market: What Investors Need to Know
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The most recent trading session ended with McKesson (MCK - Free Report) standing at $600.16, reflecting a +0.74% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.11% gain on the day. At the same time, the Dow added 1.64%, and the tech-heavy Nasdaq gained 1.03%.
The prescription drug distributor's shares have seen an increase of 0.43% over the last month, surpassing the Medical sector's loss of 0.54% and the S&P 500's loss of 1.16%.
Analysts and investors alike will be keeping a close eye on the performance of McKesson in its upcoming earnings disclosure. The company's earnings report is set to go public on August 7, 2024. It is anticipated that the company will report an EPS of $7.16, marking a 1.51% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $83.21 billion, up 11.71% from the year-ago period.
MCK's full-year Zacks Consensus Estimates are calling for earnings of $31.68 per share and revenue of $360.23 billion. These results would represent year-over-year changes of +15.45% and +16.6%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for McKesson. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.45% upward. At present, McKesson boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, McKesson is holding a Forward P/E ratio of 18.8. This valuation marks a premium compared to its industry's average Forward P/E of 18.33.
Meanwhile, MCK's PEG ratio is currently 1.39. 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. As the market closed yesterday, the Medical - Dental Supplies industry was having an average PEG ratio of 2.04.
The Medical - Dental Supplies industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 163, positioning it in the bottom 36% 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.
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) Increases Yet Falls Behind Market: What Investors Need to Know
The most recent trading session ended with McKesson (MCK - Free Report) standing at $600.16, reflecting a +0.74% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.11% gain on the day. At the same time, the Dow added 1.64%, and the tech-heavy Nasdaq gained 1.03%.
The prescription drug distributor's shares have seen an increase of 0.43% over the last month, surpassing the Medical sector's loss of 0.54% and the S&P 500's loss of 1.16%.
Analysts and investors alike will be keeping a close eye on the performance of McKesson in its upcoming earnings disclosure. The company's earnings report is set to go public on August 7, 2024. It is anticipated that the company will report an EPS of $7.16, marking a 1.51% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $83.21 billion, up 11.71% from the year-ago period.
MCK's full-year Zacks Consensus Estimates are calling for earnings of $31.68 per share and revenue of $360.23 billion. These results would represent year-over-year changes of +15.45% and +16.6%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for McKesson. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.45% upward. At present, McKesson boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, McKesson is holding a Forward P/E ratio of 18.8. This valuation marks a premium compared to its industry's average Forward P/E of 18.33.
Meanwhile, MCK's PEG ratio is currently 1.39. 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. As the market closed yesterday, the Medical - Dental Supplies industry was having an average PEG ratio of 2.04.
The Medical - Dental Supplies industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 163, positioning it in the bottom 36% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.