Drug-distribution specialist McKesson (NYSE:MCK) has had a tough year. Even as the overall stock market has climbed, the company’s shares have suffered, as investors fear that any business related to pharmaceuticals will have a political target on its back even under the current administration. Last quarter’s sluggish numbers didn’t create much enthusiasm for McKesson either.
Coming into Thursday’s fiscal fourth-quarter financial report, McKesson investors had hoped for a solid rebound from year-ago levels on the earnings and sales fronts. McKesson’s revenue growth wasn’t quite as strong as some had hoped, but the bottom-line performance from the drug distributor showed some signs of positive momentum from the company.
Let’s look more closely at McKesson to see how it did, and what’s ahead in the new fiscal year.
Image source: McKesson.
McKesson makes more green
McKesson’s fiscal fourth-quarter results were solid from a profit perspective. Revenue gains of 4%, to $48.7 billion, were short of the 6% rise that most of those following the stock had expected to see. GAAP (generally accepted accounting principles) net income soared more than eightfold due to the creation of the company’s Change Healthcare joint venture, and even on an adjusted basis, earnings of $3.42 per share trounced the consensus forecast of $3 per share.
Hot Financial Stocks For 2018: Meridian Interstate Bancorp Inc.(EBSB)
- [By Logan Wallace]
BidaskClub upgraded shares of Meridian Bancorp (NASDAQ:EBSB) from a hold rating to a buy rating in a research report sent to investors on Friday morning.
Hot Financial Stocks For 2018: First Community Corporation(FCCO)
- [By Shane Hupp]
First Community (NASDAQ:FCCO) issued its quarterly earnings data on Wednesday. The bank reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04, Fidelity Earnings reports. The business had revenue of $11.17 million during the quarter, compared to the consensus estimate of $10.83 million. First Community had a net margin of 13.91% and a return on equity of 8.23%.
Hot Financial Stocks For 2018: Protective Life Corporation(PL)
- [By David Sterman]
My favorite insurers: AIG (NYSE: AIG) (which I discussed a few months ago), Protective Life (NYSE: PL) and Reinsurance Group of America (NYSE: RGA).
Hot Financial Stocks For 2018: Beneficial Mutual Bancorp Inc.(BNCL)
- [By Joseph Griffin]
Media coverage about Beneficial Bancorp (NASDAQ:BNCL) has trended positive recently, according to Accern. Accern identifies positive and negative news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Beneficial Bancorp earned a news impact score of 0.38 on Accern’s scale. Accern also gave media headlines about the bank an impact score of 45.8699493506664 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.