McKesson (MCK) closed at $488.78 in the latest trading session, marking a -1.95% move from the prior day. This change lagged the S&P 500's daily gain of 0.01%. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.08%.

The prescription drug distributor's shares have seen a decrease of 13.15% over the last month, not keeping up with the Medical sector's loss of 3.6% and the S&P 500's gain of 1.21%.

The investment community will be paying close attention to the earnings performance of McKesson in its upcoming release. The company is slated to reveal its earnings on November 6, 2024. It is anticipated that the company will report an EPS of $7.09, marking a 13.8% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $89.57 billion, up 16% from the year-ago period.

MCK's full-year Zacks Consensus Estimates are calling for earnings of $32.07 per share and revenue of $353.23 billion. These results would represent year-over-year changes of +16.87% and +14.33%, respectively.

Any recent changes to analyst estimates for McKesson should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.23% fall in the Zacks Consensus EPS estimate. Currently, McKesson is carrying a Zacks Rank of #3 (Hold).

In terms of valuation, McKesson is currently trading at a Forward P/E ratio of 15.54. This valuation marks a discount compared to its industry's average Forward P/E of 17.12.

Meanwhile, MCK's PEG ratio is currently 1.16. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Dental Supplies was holding an average PEG ratio of 1.81 at yesterday's closing price.

The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 33% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

McKesson Corporation (MCK) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research