$1.98 Billion in Sales Expected for The J. M. Smucker Company (NYSE:SJM) This Quarter

Wall Street brokerages expect The J. M. Smucker Company (NYSE:SJM – Get Rating) to report $1.98 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for J. M. Smucker’s earnings, with the lowest sales estimate coming in at $1.96 billion and the highest estimate coming in at $2.00 billion. J. M. Smucker posted sales of $1.92 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that J. M. Smucker will report full year sales of $7.94 billion for the current year, with estimates ranging from $7.93 billion to $7.96 billion. For the next financial year, analysts forecast that the business will post sales of $8.02 billion, with estimates ranging from $7.86 billion to $8.16 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for J. M. Smucker.

J. M. Smucker (NYSE:SJM – Get Rating) last released its quarterly earnings data on Tuesday, March 1st. The company reported $2.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.08 by $0.25. J. M. Smucker had a net margin of 7.31% and a return on equity of 11.30%. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the prior year, the company posted $2.45 earnings per share. The business’s revenue was down .9% on a year-over-year basis.

Several research analysts have weighed in on SJM shares. William Blair restated a “market perform” rating on shares of J. M. Smucker in a report on Tuesday, March 1st. Morgan Stanley lowered their target price on shares of J. M. Smucker from $130.00 to $117.00 and set an “underweight” rating for the company in a report on Wednesday, March 2nd. The Goldman Sachs Group increased their target price on shares of J. M. Smucker from $107.00 to $111.00 in a report on Thursday, February 17th. StockNews.com began coverage on shares of J. M. Smucker in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Citigroup lowered their target price on shares of J. M. Smucker from $138.00 to $131.00 and set a “neutral” rating for the company in a report on Wednesday, March 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $132.77.

A number of large investors have recently modified their holdings of SJM. Daiwa Securities Group Inc. boosted its position in J. M. Smucker by 4.8% during the third quarter. Daiwa Securities Group Inc. now owns 6,292 shares of the company’s stock worth $755,000 after purchasing an additional 290 shares during the period. Moors & Cabot Inc. bought a new position in J. M. Smucker during the third quarter worth about $226,000. Advisory Services Network LLC boosted its position in J. M. Smucker by 14.2% during the third quarter. Advisory Services Network LLC now owns 2,165 shares of the company’s stock worth $260,000 after purchasing an additional 270 shares during the period. Meeder Asset Management Inc. boosted its position in shares of J. M. Smucker by 17.1% in the third quarter. Meeder Asset Management Inc. now owns 993 shares of the company’s stock valued at $119,000 after acquiring an additional 145 shares during the period. Finally, Affinity Investment Advisors LLC boosted its position in shares of J. M. Smucker by 6.1% in the third quarter. Affinity Investment Advisors LLC now owns 2,655 shares of the company’s stock valued at $319,000 after acquiring an additional 152 shares during the period. Hedge funds and other institutional investors own 83.02% of the company’s stock.

SJM opened at $139.05 on Thursday. The company has a current ratio of 1.19, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average price is $135.21 and its two-hundred day moving average price is $133.98. J. M. Smucker has a 1-year low of $118.55 and a 1-year high of $145.82. The company has a market cap of $15.08 billion, a price-to-earnings ratio of 26.19 and a beta of 0.27.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th will be given a dividend of $0.99 per share. The ex-dividend date is Thursday, May 12th. This represents a $3.96 dividend on an annualized basis and a yield of 2.85%. J. M. Smucker’s dividend payout ratio is presently 74.58%.

About J. M. Smucker (Get Rating)

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, shortening and oils, and frozen sandwiches; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking ingredient.

See Also