Market Update (NYSE:MCK): McKesson Recommends Shareholders Reject “Mini-Tender” Offer by TRC Capital Corporation

[Business Wire] – McKesson Corporation received notice of an unsolicited “mini-tender” offer by TRC Capital Corporation to purchase up to 1 million shares of McKesson’s common stock at a price of $182.00 per share in cash. Read more on this. McKesson Corporation (MCK) , valued at $46.01B, started trading this morning at $197.89. Looking at today’s trading action, the company’s one day range from $197.39 to $200.00 and has traded between $160.10 and $243.61 over the past year. McKesson (MCK) shares are currently priced at 15.35x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 11.97x earnings multiple for the same period. And for passive income investors, the company pays shareholders $1.12 per share annually in dividends, yielding 0.58%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $3.18 per share, which would be $0.29 better than the year-ago quarter and a $0.05 sequential decrease. The full-year EPS estimate is $12.85, which would be a $1.74 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $48.97 Billion. If realized, that would be a 4.19% increase over the year-ago quarter. In terms of ratings, RBC Capital Mkts Initiated MCK at Outperform (Oct 17, 2014). Previously, Deutsche Bank Initiated MCK at to Buy. The average price target for MCK shares by the analysts covering it is $230.56, which is 16.51% above where the stock opened. See more in (NYSE:MCK) Similar Articles: Market Update (NYSE:RAI): Advisory: RAI recommends shareholders reject TRC Capital ‘mini-tender’ offer Company Update (NYSE:T): AT&T Recommends Shareholders Reject Mini-Tender Offer from TRC Capital Market Update: Yahoo! Inc. (NASDAQ:YHOO) – Yahoo Recommends Shareholders Reject “Mini-Tender” Offer by TRC Capital Corporation