Zacks: Analysts Expect MCCORMICK & CO /SH NV (MKC) Will Post Earnings of $1.26 Per Share

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Brokerages forecast that MCCORMICK & CO /SH NV (NYSE:MKC) will report earnings of $1.26 per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for MCCORMICK & CO /SH’s earnings, with estimates ranging from $1.22 to $1.30. MCCORMICK & CO /SH reported earnings of $1.12 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.5%. The company is expected to report its next earnings results before the market opens on Thursday, September 27th.

On average, analysts expect that MCCORMICK & CO /SH will report full year earnings of $4.96 per share for the current year, with EPS estimates ranging from $4.91 to $5.00. For the next year, analysts expect that the firm will report earnings of $5.35 per share, with EPS estimates ranging from $5.21 to $5.46. Zacks’ EPS calculations are an average based on a survey of analysts that cover MCCORMICK & CO /SH.

MCCORMICK & CO /SH (NYSE:MKC) last posted its earnings results on Thursday, June 28th. The company reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.09. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. MCCORMICK & CO /SH had a return on equity of 21.98% and a net margin of 15.83%. MCCORMICK & CO /SH’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share.

MKC has been the topic of a number of research analyst reports. ValuEngine upgraded MCCORMICK & CO /SH from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $123.00 target price on shares of MCCORMICK & CO /SH in a research report on Thursday, June 28th. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Vertical Group downgraded MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. They noted that the move was a valuation call. Finally, Citigroup boosted their target price on MCCORMICK & CO /SH from $114.00 to $117.00 and gave the stock a “neutral” rating in a research report on Friday, June 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $114.25.

In other news, VP Michael R. Smith sold 8,000 shares of the company’s stock in a transaction on Monday, July 9th. The stock was sold at an average price of $119.90, for a total value of $959,200.00. Following the sale, the vice president now directly owns 22,759 shares in the company, valued at $2,728,804.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan D. Wilson sold 100,000 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $125.30, for a total value of $12,530,000.00. Following the completion of the sale, the director now owns 212,894 shares in the company, valued at $26,675,618.20. The disclosure for this sale can be found here. Insiders sold 266,600 shares of company stock worth $30,935,200 over the last 90 days. Company insiders own 19.20% of the company’s stock.

Several large investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. purchased a new position in MCCORMICK & CO /SH during the second quarter worth about $3,537,000. ST Germain D J Co. Inc. lifted its position in MCCORMICK & CO /SH by 16.0% during the second quarter. ST Germain D J Co. Inc. now owns 3,015 shares of the company’s stock worth $350,000 after buying an additional 415 shares during the period. Victory Capital Management Inc. lifted its position in MCCORMICK & CO /SH by 13.1% during the second quarter. Victory Capital Management Inc. now owns 34,358 shares of the company’s stock worth $3,989,000 after buying an additional 3,984 shares during the period. Stock Yards Bank & Trust Co. lifted its position in MCCORMICK & CO /SH by 3.8% during the second quarter. Stock Yards Bank & Trust Co. now owns 104,726 shares of the company’s stock worth $12,157,000 after buying an additional 3,835 shares during the period. Finally, Stevens Capital Management LP purchased a new position in MCCORMICK & CO /SH during the second quarter worth about $3,545,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

MKC opened at $131.24 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.42 and a debt-to-equity ratio of 1.47. The firm has a market cap of $17.37 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 2.96 and a beta of 0.55. MCCORMICK & CO /SH has a one year low of $93.70 and a one year high of $132.83.

About MCCORMICK & CO /SH

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

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Earnings History and Estimates for MCCORMICK & CO /SH (NYSE:MKC)

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