Brokerages Expect MCCORMICK & CO /SH NV (MKC) to Announce $1.26 EPS

Wall Street brokerages forecast that MCCORMICK & CO /SH NV (NYSE:MKC) will report $1.26 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for MCCORMICK & CO /SH’s earnings, with the highest EPS estimate coming in at $1.30 and the lowest estimate coming in at $1.22. MCCORMICK & CO /SH posted earnings per share of $1.12 in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.5%. The firm is expected to issue its next earnings report 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 financial year, analysts forecast that the firm will post earnings of $5.35 per share, with EPS estimates ranging from $5.21 to $5.46. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for MCCORMICK & CO /SH.

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

MKC has been the subject of a number of research reports. Zacks Investment Research lowered shares of MCCORMICK & CO /SH from a “hold” rating to a “sell” rating in a research note on Tuesday, June 5th. Credit Suisse Group upped their price objective on shares of MCCORMICK & CO /SH from $122.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, June 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $123.00 price objective on shares of MCCORMICK & CO /SH in a research note on Thursday, June 28th. ValuEngine raised shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, Citigroup upped their price objective on shares of MCCORMICK & CO /SH from $114.00 to $117.00 and gave the stock a “neutral” rating in a research note on Friday, June 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $114.25.

In other news, Director Alan D. Wilson sold 158,600 shares of the company’s stock in a transaction dated Thursday, June 28th. The shares were sold at an average price of $110.00, for a total transaction of $17,446,000.00. Following the transaction, the director now owns 212,894 shares in the company, valued at $23,418,340. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Michael R. Smith sold 8,000 shares of the company’s stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $119.90, for a total transaction of $959,200.00. Following the transaction, the vice president now owns 22,759 shares in the company, valued at approximately $2,728,804.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 266,600 shares of company stock valued at $30,935,200. Insiders own 19.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of MKC. Tiverton Asset Management LLC acquired a new position in MCCORMICK & CO /SH in the 1st quarter worth approximately $105,000. Itau Unibanco Holding S.A. acquired a new position in MCCORMICK & CO /SH in the 2nd quarter worth approximately $111,000. Signaturefd LLC acquired a new position in MCCORMICK & CO /SH in the 1st quarter worth approximately $116,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in MCCORMICK & CO /SH in the 2nd quarter worth approximately $125,000. Finally, IMS Capital Management acquired a new position in MCCORMICK & CO /SH in the 2nd quarter worth approximately $128,000. Hedge funds and other institutional investors own 82.66% of the company’s stock.

NYSE:MKC traded up $1.01 during mid-day trading on Friday, reaching $132.29. The company’s stock had a trading volume of 536,876 shares, compared to its average volume of 622,237. MCCORMICK & CO /SH has a 1 year low of $93.70 and a 1 year high of $132.35. The firm has a market cap of $17.22 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 2.94 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.85 and a quick ratio of 0.42.

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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