McKesson Slides as Investors Look Ahead to November Earnings

McKesson closed at $853.81, down 1.27% in the latest trading session. The decline was steeper than the S&P 500’s 0.25% loss. The Dow fell 0.86%, while the Nasdaq gained 0.24%.

The shares had lost 4.63% over the past month, compared with a 1.01% decline in the Medical sector and a 0.42% drop in the S&P 500, according to the article.

McKesson is scheduled to report earnings on November 4. Zacks consensus estimates call for earnings of $10.72 per share and revenue of $110.14 billion for the quarter. Those figures would represent year-over-year increases of 8.72% and 6.78%, respectively.

For the full year, Zacks estimates earnings of $44.64 per share and revenue of $429.09 billion. The projections represent gains of 14.14% and 6.36% from the prior year, respectively.

The Zacks consensus estimate for earnings per share edged 0.02% lower over the past month. The publisher also reported that McKesson’s forward price-to-earnings ratio was 19.37, compared with 17.02 for its industry.