Market Update (NYSE:MCK): McKesson Updates Fiscal 2017 Guidance

[Business Wire] – McKesson Corporation today announced that for the fiscal year ending March 31, 2017, the company has updated its previous guidance range of $13.30 to $13.80 per diluted share to a new range of $13.43 to $13.93 per diluted share, which continues to exclude approximately 12 to 15 cents in expected charges from Adjusted Earnings related to the Cost Alignment Plan the company announced in March 2016. Read more on this. McKesson Corporation (MCK) , currently valued at $41.29B, started trading this morning at $179.94. During the trading session, MCK traded between $178.35 to $183.08 with a one year range of $148.29 to $236.86. MCK shares are currently priced at 13.06x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 9.53x earnings multiple. And for passive income investors, the company pays shareholders $1.12 per share annually in dividends, yielding 0.63%. According to a consensus of 16 analysts, the earnings estimate of $3.22 per share would be $0.08 better than the year-ago quarter and a $0.05 sequential increase. The full-year EPS estimate is $13.52, which would be a $1.44 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $50.33 Billion. If realized, that would be a 5.85% increase over the year-ago quarter. More recently, Avondale downgraded MCK from Mkt Outperform to Mkt Perform (May 5, 2016). Previously, Standpoint Research downgraded MCK from Buy to Hold. The average price target for MCK shares is $195.20, which is 8.48% above where the stock opened this morning. See more in (NYSE:MCK) Similar Articles: Market Update: McKesson Corporation (NYSE:MCK) – Dominion Pathology Associates Chooses McKesson Market Update: McKesson Corporation (NYSE:MCK) – McKesson Announces Fiscal 2016 Earnings Update and Preliminary Fiscal 2017 Outlook Company Update: McKesson Corporation (NYSE:MCK) – McKesson Corporation Fiscal 2016 Third Quarter Conference Call Scheduled for January 27, 2016