MCCORMICK & CO /SH NV (NYSE:MKC) Expected to Announce Earnings of $1.30 Per Share

Brokerages expect that MCCORMICK & CO /SH NV (NYSE:MKC) will announce $1.30 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for MCCORMICK & CO /SH’s earnings. The highest EPS estimate is $1.31 and the lowest is $1.29. MCCORMICK & CO /SH posted earnings per share of $1.28 in the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The company is expected to report its next earnings report on Thursday, September 26th.

On average, analysts expect that MCCORMICK & CO /SH will report full year earnings of $5.31 per share for the current fiscal year, with EPS estimates ranging from $5.27 to $5.35. For the next fiscal year, analysts anticipate that the company will post earnings of $5.63 per share, with EPS estimates ranging from $5.60 to $5.65. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for MCCORMICK & CO /SH.

MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings data on Thursday, June 27th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. MCCORMICK & CO /SH had a return on equity of 21.42% and a net margin of 12.73%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the firm posted $1.02 earnings per share. The firm’s quarterly revenue was up .0% on a year-over-year basis.

A number of research firms recently commented on MKC. Citigroup upped their price objective on MCCORMICK & CO /SH from $155.00 to $166.00 and gave the company a “neutral” rating in a report on Friday, June 28th. UBS Group set a $155.00 price objective on MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. Deutsche Bank set a $142.00 price objective on MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 price objective on the stock in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their price objective on MCCORMICK & CO /SH from $143.00 to $148.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $142.67.

In other MCCORMICK & CO /SH news, VP Michael R. Smith sold 9,200 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $154.49, for a total transaction of $1,421,308.00. Following the transaction, the vice president now directly owns 30,553 shares in the company, valued at $4,720,132.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Nneka Louise Rimmer sold 2,070 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $154.02, for a total value of $318,821.40. Following the transaction, the vice president now owns 6,209 shares in the company, valued at $956,310.18. The disclosure for this sale can be found here. Insiders have sold 17,135 shares of company stock worth $2,644,538 over the last 90 days. 11.00% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of MCCORMICK & CO /SH by 2.6% during the first quarter. BlackRock Inc. now owns 10,738,844 shares of the company’s stock worth $1,617,593,000 after acquiring an additional 275,507 shares during the period. Fundsmith LLP increased its position in shares of MCCORMICK & CO /SH by 93.6% during the first quarter. Fundsmith LLP now owns 5,204,584 shares of the company’s stock worth $783,966,000 after acquiring an additional 2,515,590 shares during the period. Clearbridge Investments LLC increased its position in shares of MCCORMICK & CO /SH by 4.9% during the first quarter. Clearbridge Investments LLC now owns 2,039,349 shares of the company’s stock worth $307,187,000 after acquiring an additional 94,527 shares during the period. Geode Capital Management LLC increased its position in shares of MCCORMICK & CO /SH by 15.9% during the fourth quarter. Geode Capital Management LLC now owns 1,800,426 shares of the company’s stock worth $250,306,000 after acquiring an additional 247,249 shares during the period. Finally, Northern Trust Corp increased its position in shares of MCCORMICK & CO /SH by 4.1% during the fourth quarter. Northern Trust Corp now owns 1,700,589 shares of the company’s stock worth $236,790,000 after acquiring an additional 66,455 shares during the period. Institutional investors own 79.95% of the company’s stock.

MKC traded down $0.35 during trading hours on Tuesday, reaching $161.44. The company’s stock had a trading volume of 757,102 shares, compared to its average volume of 941,675. MCCORMICK & CO /SH has a fifty-two week low of $115.95 and a fifty-two week high of $162.63. The stock has a market cap of $21.31 billion, a PE ratio of 32.48, a PEG ratio of 3.80 and a beta of 0.21. The business has a 50-day moving average of $155.84. The company has a current ratio of 0.79, a quick ratio of 0.35 and a debt-to-equity ratio of 1.18.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, July 5th. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is 45.88%.

MCCORMICK & CO /SH Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates in two segments, Consumer and Flavor Solutions. 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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