McCormick & Company, Incorporated (MKC) Expected to Announce Earnings of $1.52 Per Share

Equities analysts predict that McCormick & Company, Incorporated (NYSE:MKC) will report $1.52 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for McCormick & Company, Incorporated’s earnings, with the lowest EPS estimate coming in at $1.51 and the highest estimate coming in at $1.54. McCormick & Company, Incorporated posted earnings of $1.27 per share during the same quarter last year, which suggests a positive year over year growth rate of 19.7%. The firm is scheduled to report its next earnings report on Wednesday, January 24th.

On average, analysts expect that McCormick & Company, Incorporated will report full year earnings of $4.22 per share for the current financial year, with EPS estimates ranging from $4.20 to $4.23. For the next financial year, analysts forecast that the company will post earnings of $4.69 per share, with EPS estimates ranging from $4.55 to $4.81. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover McCormick & Company, Incorporated.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, September 28th. The company reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.07. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. McCormick & Company, Incorporated had a return on equity of 26.09% and a net margin of 10.05%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS.

A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Group set a $120.00 target price on McCormick & Company, Incorporated and gave the company a “buy” rating in a report on Monday, October 30th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $103.00 target price (up previously from $95.00) on shares of McCormick & Company, Incorporated in a report on Monday, October 2nd. Citigroup raised their target price on McCormick & Company, Incorporated from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $115.00 target price (up previously from $112.00) on shares of McCormick & Company, Incorporated in a report on Friday, September 29th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average target price of $106.00.

Shares of McCormick & Company, Incorporated (NYSE:MKC) traded up $0.99 during mid-day trading on Tuesday, hitting $100.12. The company’s stock had a trading volume of 723,100 shares, compared to its average volume of 885,471. The firm has a market cap of $12,985.73, a P/E ratio of 24.97, a PEG ratio of 2.51 and a beta of 0.53. McCormick & Company, Incorporated has a 52-week low of $88.64 and a 52-week high of $106.50. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.47 and a current ratio of 0.95.

In related news, Director Maritza Gomez Montiel sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $96.26, for a total transaction of $240,650.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael R. Smith sold 5,500 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $102.60, for a total value of $564,300.00. Following the sale, the vice president now directly owns 19,248 shares in the company, valued at approximately $1,974,844.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,000 shares of company stock worth $1,598,490. 15.30% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new position in McCormick & Company, Incorporated during the 3rd quarter worth about $453,000. Visionary Asset Management Inc. acquired a new position in McCormick & Company, Incorporated during the 3rd quarter worth about $229,000. Public Employees Retirement System of Ohio lifted its holdings in McCormick & Company, Incorporated by 3.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 46,141 shares of the company’s stock worth $4,736,000 after buying an additional 1,323 shares during the period. Crestwood Advisors Group LLC lifted its holdings in McCormick & Company, Incorporated by 1.6% during the 3rd quarter. Crestwood Advisors Group LLC now owns 175,607 shares of the company’s stock worth $18,024,000 after buying an additional 2,727 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in McCormick & Company, Incorporated during the 3rd quarter worth about $200,000. 76.24% of the stock is currently owned by institutional investors.

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About McCormick & Company, Incorporated

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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Earnings History and Estimates for McCormick & Company, Incorporated (NYSE:MKC)

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