McKesson (MCK) Rises Higher Than Market: Key Facts

McKesson (MCK) ended the recent trading session at $730.80, demonstrating a +1.82% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.38%. On the other hand, the Dow registered a gain of 0.24%, and the technology-centric Nasdaq increased by 0.24%. Shares of the prescription drug distributor witnessed a gain of 5.2% over the previous month, beating the performance of the Medical sector with its gain of 4.64%, and underperforming the S&P 500's gain of 6.6%.The investment community will be paying close attention to the earnings performance of McKesson in its upcoming release. The company is forecasted to report an EPS of $8.35, showcasing a 5.96% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $95.77 billion, up 20.79% from the prior-year quarter. MCK's full-year Zacks Consensus Estimates are calling for earnings of $37.21 per share and revenue of $405.8 billion. These results would represent year-over-year changes of +12.59% and +13.02%, respectively. It is also important to note the recent changes to analyst estimates for McKesson. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% lower. As of now, McKesson holds a Zacks Rank of #3 (Hold). Investors should also note McKesson's current valuation metrics, including its Forward P/E ratio of 19.29. This indicates a premium in contrast to its industry's Forward P/E of 17.96. We can additionally observe that MCK currently boasts a PEG ratio of 1.43. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Medical - Dental Supplies industry had an average PEG ratio of 1.75. The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 67, putting it in the top 28% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. Don’t Miss Out on These Stocks Before you make your next investing move, we have a free report that highlights the %%CTA_TEXT%% to buy.Our experts at Zacks Investment Research hand-selected these stocks for their eye-opening growth projections.Since 1988, our stock picks have more than doubled the S&P 500 with an average gain of +23.89% per year using the Zacks Rank stock-rating system.Register now to see the %%CTA_TEXT%%.7 best stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report McKesson Corporation (MCK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks