Brokerages Anticipate McCormick & Company, Incorporated (NYSE:MKC) to Post $0.66 Earnings Per Share

Equities analysts expect that McCormick & Company, Incorporated (NYSE:MKCGet Rating) will announce earnings of $0.66 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for McCormick & Company, Incorporated’s earnings. The lowest EPS estimate is $0.65 and the highest is $0.67. McCormick & Company, Incorporated posted earnings of $0.69 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.3%. The firm is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that McCormick & Company, Incorporated will report full-year earnings of $3.17 per share for the current financial year, with EPS estimates ranging from $3.05 to $3.21. For the next fiscal year, analysts forecast that the business will report earnings of $3.42 per share, with EPS estimates ranging from $3.25 to $3.52. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for McCormick & Company, Incorporated.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last released its earnings results on Tuesday, March 29th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.47 billion. McCormick & Company, Incorporated had a net margin of 11.77% and a return on equity of 18.00%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS.

A number of research analysts have weighed in on MKC shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of McCormick & Company, Incorporated from $96.00 to $99.00 in a research report on Wednesday, March 30th. StockNews.com initiated coverage on shares of McCormick & Company, Incorporated in a report on Thursday, March 31st. They set a “hold” rating on the stock. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a report on Thursday, February 17th. They noted that the move was a valuation call. Finally, Credit Suisse Group downgraded shares of McCormick & Company, Incorporated from an “outperform” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a report on Wednesday, January 19th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $99.80.

McCormick & Company, Incorporated stock opened at $97.54 on Friday. The firm has a market cap of $26.15 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 4.99 and a beta of 0.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.73 and a quick ratio of 0.32. McCormick & Company, Incorporated has a fifty-two week low of $77.85 and a fifty-two week high of $107.35. The firm has a fifty day moving average price of $99.66 and a two-hundred day moving average price of $94.49.

The business also recently announced a quarterly dividend, which was paid on Monday, April 25th. Stockholders of record on Monday, April 11th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, April 8th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.52%. McCormick & Company, Incorporated’s payout ratio is 53.43%.

In other news, CFO Michael R. Smith sold 19,986 shares of the company’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $104.04, for a total transaction of $2,079,343.44. Following the transaction, the chief financial officer now directly owns 93,025 shares in the company, valued at $9,678,321. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First National Bank of South Miami lifted its holdings in McCormick & Company, Incorporated by 843.8% in the fourth quarter. First National Bank of South Miami now owns 302 shares of the company’s stock valued at $29,000 after buying an additional 270 shares during the period. Confluence Wealth Services Inc. acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $29,000. Western Pacific Wealth Management LP lifted its holdings in McCormick & Company, Incorporated by 50.0% in the first quarter. Western Pacific Wealth Management LP now owns 300 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the period. Lumature Wealth Partners LLC lifted its holdings in McCormick & Company, Incorporated by 65.3% in the fourth quarter. Lumature Wealth Partners LLC now owns 324 shares of the company’s stock valued at $31,000 after buying an additional 128 shares during the period. Finally, Riverview Trust Co acquired a new position in McCormick & Company, Incorporated in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 74.86% of the company’s stock.

About McCormick & Company, Incorporated (Get Rating)

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.

Featured Stories

Get a free copy of the Zacks research report on McCormick & Company, Incorporated (MKC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.