Earnings Reaction History: McKesson Corporation (NYSE:MCK) has a 58.62% chance to rise
McKesson Corporation (NYSE:MCK) is projected to declare fiscal fourth quarter financial results right after the stock market’s official close on May 09, 2017. The stock lost about -2.3 percent in price since last results when it was at $151.1 a share. Based on the most relevant past-periods data, there is an 58.62 percent probability for this firm’s share price to go up following next quarterly results. Earnings reaction history tells us that the equity price moved up 17 times out of last 29 reported quarters. It has beaten earnings-per-share estimates 83% of the time in its last 12 earnings reports. It fell short of earnings estimates on 2 occasions, and it has met expectations 0 time.
Here’s how traders responded to MCK earnings announcements over the past few quarters.
McKesson Corporation (MCK) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was -3.84 percent over the past four quarters. Back on January 25, 2017, it posted earnings per-share earnings at $3.03 which beat the consensus $2.95 projection (positive surprise of2.71%. For the quarter, revenue came in at 50.13B versus consensus estimate of 50.5B. The stock dropped -8.31 percent the session following the earnings reports were released, and on 7th day price change was 0 percent.
On October 27, 2016, it reported earnings at $2.94 a share compared with the consensus estimate of $3.05 per share (negative surprise of -3.61%). Revenue of 49.96B for that quarter was below the $51.21B analysts had expected. The stock retreated -22.67% the day following the earnings announcement, and on 7th day price change was -19.26%.
On July 27, 2016, it recorded $3.5 a share in earnings which topped the consensus estimate of $3.35 (positive surprise of 4.48%). Revenue for the quarter was $49.73B while analysts called for revenues to be $50.36B. The stock dropped -1.77% the day following the earnings data was made public, and on 7th day price change was -0.9%.
On May 4, 2016, it announced earnings per share at $2.44 versus the consensus estimate of $3.01 per share (negative surprise of -18.94%). That came on revenues of $46.68B for that period. Analysts had expected $46.85B in revenue.
McKesson Corporation Earnings Estimates
As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $2.88. The analysts’ present consensus range is $2.84-$2.93 for EPS. The market consensus range for revenue is between $47.2B and $53.03B, with an average of $50.06B.
McKesson Corporation (NYSE:MCK) last ended at $148.05, sending the company’s market cap near $31.39B. The consensus 12-month price target from analysts covering the stock is $157.57. The share price has declined -25.37% from its top level in 52 weeks and dropped 5.61% this year. It recently traded in a range of $146.67-$148.72 at a volume of 1498572 shares. The recent trading ended with the price nearly -1.46 lower for the last 5 trading days, rebounding 29.76% from its 52-week low.