Market Update: McKesson Corporation (NYSE:MCK) – McKesson Announces Fiscal 2016 Earnings Update and Preliminary Fiscal 2017 Outlook

[Business Wire] – McKesson Corporation today announced an update to its outlook for Adjusted Earnings per diluted share for the fiscal year ending March 31, 2016, from the previous range of $12.50 to $13.00 to a new range of $12.60 to $12.90. Read more on this. McKesson Corporation (MCK) , valued at $38.20B, started trading this morning at $168.94. Looking at today’s market, MCK one day range is $164.99 to $170.78 with a trailing 52-week range being $160.10 to $243.61. Priced at 14.22x this year’s forecasted earnings, MCK shares are relatively expensive compared to the industry’s 10.49x forward p/e ratio. And for passive income investors, the company pays shareholders $1.12 per share annually in dividends, yielding 0.57%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $3.17 per share, which would be $0.28 better than the year-ago quarter and a $0.07 sequential decrease. The full-year EPS estimate is $12.83, which would be a $1.72 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $48.96 Billion. If realized, that would be a 4.17% increase over the year-ago quarter. More recently, Raymond James downgraded MCK from Strong Buy to Outperform (Jan 6, 2016). Previously, RBC Capital Mkts Initiated MCK at to Outperform. Investors should keep in mind is that the average price target is $231.81, which is 37.21% above where the stock opened this morning. See more in (NYSE:MCK) Similar Articles: Company Update: McKesson Corporation (NYSE:MCK) – McKesson Corporation Fiscal 2016 Third Quarter Conference Call Scheduled for January 27, 2016 Stock Update: McKesson Corporation (NYSE:MCK) – McKesson Corporation Fiscal 2016 Second Quarter Conference Call Scheduled for October 29, 2015 Market Update: McKesson Corporation (NYSE:MCK) – McKesson Announces Agreement to Purchase the Pharmaceutical Distribution Division of UDG Healthcare plc