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McKesson (MCK) Advances While Market Declines: Some Information for Investors
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McKesson (MCK - Free Report) closed the most recent trading day at $629.09, moving +1.96% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 2.3%.
Prior to today's trading, shares of the prescription drug distributor had gained 5.77% over the past month. This has outpaced the Medical sector's gain of 0.74% and the S&P 500's gain of 1.11% in that time.
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 August 7, 2024. The company is forecasted to report an EPS of $7.16, showcasing a 1.51% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $83.21 billion, up 11.71% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $31.68 per share and a revenue of $360.23 billion, indicating changes of +15.45% and +16.6%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for McKesson. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, 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 past month, there's been a 0.45% rise in the Zacks Consensus EPS estimate. At present, McKesson boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, McKesson is currently exchanging hands at a Forward P/E ratio of 19.48. Its industry sports an average Forward P/E of 18.99, so one might conclude that McKesson is trading at a premium comparatively.
Also, we should mention that MCK has a PEG ratio of 1.44. 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 of the close of trade yesterday, the Medical - Dental Supplies industry held an average PEG ratio of 2.11.
The Medical - Dental Supplies industry is part of the Medical sector. With its current Zacks Industry Rank of 202, this industry ranks in the bottom 21% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Advances While Market Declines: Some Information for Investors
McKesson (MCK - Free Report) closed the most recent trading day at $629.09, moving +1.96% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 2.3%.
Prior to today's trading, shares of the prescription drug distributor had gained 5.77% over the past month. This has outpaced the Medical sector's gain of 0.74% and the S&P 500's gain of 1.11% in that time.
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 August 7, 2024. The company is forecasted to report an EPS of $7.16, showcasing a 1.51% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $83.21 billion, up 11.71% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $31.68 per share and a revenue of $360.23 billion, indicating changes of +15.45% and +16.6%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for McKesson. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, 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 past month, there's been a 0.45% rise in the Zacks Consensus EPS estimate. At present, McKesson boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, McKesson is currently exchanging hands at a Forward P/E ratio of 19.48. Its industry sports an average Forward P/E of 18.99, so one might conclude that McKesson is trading at a premium comparatively.
Also, we should mention that MCK has a PEG ratio of 1.44. 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 of the close of trade yesterday, the Medical - Dental Supplies industry held an average PEG ratio of 2.11.
The Medical - Dental Supplies industry is part of the Medical sector. With its current Zacks Industry Rank of 202, this industry ranks in the bottom 21% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.