$1.15 Billion in Sales Expected for McCormick & Company, Incorporated (MKC) This Quarter

Equities analysts forecast that McCormick & Company, Incorporated (NYSE:MKC) will post sales of $1.15 billion for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for McCormick & Company,’s earnings. The lowest sales estimate is $1.11 billion and the highest is $1.16 billion. McCormick & Company, posted sales of $1.09 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.5%. The company is expected to announce its next quarterly earnings report before the market opens on Friday, September 29th.

According to Zacks, analysts expect that McCormick & Company, will report full year sales of $1.15 billion for the current fiscal year, with estimates ranging from $4.74 billion to $4.77 billion. For the next fiscal year, analysts expect that the firm will post sales of $5.35 billion per share, with estimates ranging from $5.32 billion to $5.39 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for McCormick & Company,.

McCormick & Company, (NYSE:MKC) last released its earnings results on Thursday, June 29th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.06. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. McCormick & Company, had a net margin of 10.69% and a return on equity of 28.28%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS.

A number of research firms have commented on MKC. Credit Suisse Group lifted their price objective on shares of McCormick & Company, from $108.00 to $112.00 and gave the stock an “outperform” rating in a research report on Monday. Jefferies Group LLC reaffirmed a “buy” rating and set a $110.00 price objective on shares of McCormick & Company, in a research report on Thursday, August 31st. Zacks Investment Research cut shares of McCormick & Company, from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. BidaskClub raised shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, Edward Jones raised shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $103.50.

McCormick & Company, (MKC) traded down 0.01% during trading on Friday, reaching $98.93. 870,575 shares of the company traded hands. The company’s 50-day moving average is $96.40 and its 200 day moving average is $99.05. The company has a market cap of $12.33 billion, a PE ratio of 26.28 and a beta of 0.52. McCormick & Company, has a 12 month low of $88.64 and a 12 month high of $106.50.

Institutional investors and hedge funds have recently bought and sold shares of the company. FNY Managed Accounts LLC acquired a new stake in shares of McCormick & Company, during the first quarter worth $135,000. Harfst & Associates Inc. acquired a new stake in shares of McCormick & Company, during the first quarter worth $139,000. Van ECK Associates Corp lifted its holdings in shares of McCormick & Company, by 6.9% during the first quarter. Van ECK Associates Corp now owns 1,689 shares of the company’s stock worth $165,000 after buying an additional 109 shares in the last quarter. BlueMountain Capital Management LLC lifted its holdings in shares of McCormick & Company, by 1,600.0% during the second quarter. BlueMountain Capital Management LLC now owns 1,717 shares of the company’s stock worth $167,000 after buying an additional 1,616 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of McCormick & Company, by 28.4% during the second quarter. IFP Advisors Inc now owns 1,784 shares of the company’s stock worth $174,000 after buying an additional 395 shares in the last quarter. 72.74% of the stock is owned by institutional investors.

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About McCormick & Company,

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, (NYSE:MKC)

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