Zacks: Brokerages Anticipate MCCORMICK & CO /SH NV (NYSE:MKC) Will Post Earnings of $1.08 Per Share

Brokerages expect MCCORMICK & CO /SH NV (NYSE:MKC) to announce earnings of $1.08 per share for the current quarter, according to Zacks. Four analysts have provided estimates for MCCORMICK & CO /SH’s earnings, with the lowest EPS estimate coming in at $1.01 and the highest estimate coming in at $1.12. MCCORMICK & CO /SH reported earnings of $1.12 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.6%. The company is scheduled to announce its next quarterly earnings results on Tuesday, March 24th.

According to Zacks, analysts expect that MCCORMICK & CO /SH will report full year earnings of $5.29 per share for the current year, with EPS estimates ranging from $5.26 to $5.35. For the next fiscal year, analysts expect that the firm will post earnings of $5.65 per share, with EPS estimates ranging from $5.55 to $5.71. Zacks’ EPS calculations are an average based on a survey of research analysts that cover MCCORMICK & CO /SH.

MCCORMICK & CO /SH (NYSE:MKC) last released its earnings results on Tuesday, January 28th. The company reported $1.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.61. MCCORMICK & CO /SH had a net margin of 13.14% and a return on equity of 21.00%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. The company’s revenue was up 1.2% compared to the same quarter last year.

A number of research analysts have recently weighed in on MKC shares. Bank of America started coverage on shares of MCCORMICK & CO /SH in a report on Friday, January 10th. They set a “neutral” rating and a price target on the stock. Goldman Sachs Group downgraded shares of MCCORMICK & CO /SH from a “neutral” rating to a “sell” rating and set a $140.00 price target on the stock. in a report on Tuesday, December 10th. ValuEngine downgraded shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a report on Friday, January 3rd. Deutsche Bank restated a “hold” rating and set a $163.00 price target on shares of MCCORMICK & CO /SH in a report on Wednesday, December 11th. Finally, Jefferies Financial Group restated a “sell” rating and set a $150.00 price target on shares of MCCORMICK & CO /SH in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. MCCORMICK & CO /SH presently has a consensus rating of “Hold” and a consensus target price of $156.00.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stifel Financial Corp boosted its position in shares of MCCORMICK & CO /SH by 38.4% during the 4th quarter. Stifel Financial Corp now owns 451,376 shares of the company’s stock valued at $77,102,000 after acquiring an additional 125,121 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of MCCORMICK & CO /SH by 34.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 388,634 shares of the company’s stock valued at $65,963,000 after acquiring an additional 98,673 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of MCCORMICK & CO /SH by 14.0% during the 4th quarter. ProShare Advisors LLC now owns 698,888 shares of the company’s stock valued at $118,622,000 after acquiring an additional 85,668 shares in the last quarter. State Street Corp boosted its position in shares of MCCORMICK & CO /SH by 1.3% during the 3rd quarter. State Street Corp now owns 6,810,527 shares of the company’s stock valued at $1,064,485,000 after acquiring an additional 85,607 shares in the last quarter. Finally, Parnassus Investments CA boosted its position in shares of MCCORMICK & CO /SH by 16.0% during the 4th quarter. Parnassus Investments CA now owns 619,597 shares of the company’s stock valued at $105,164,000 after acquiring an additional 85,378 shares in the last quarter. Institutional investors own 79.14% of the company’s stock.

Shares of MCCORMICK & CO /SH stock traded down $0.24 during midday trading on Friday, reaching $166.84. 462,387 shares of the company’s stock traded hands, compared to its average volume of 782,432. The company has a market cap of $21.75 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 4.38 and a beta of 0.11. The company’s 50 day simple moving average is $167.39 and its 200 day simple moving average is $164.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.35 and a current ratio of 0.72. MCCORMICK & CO /SH has a 52 week low of $128.12 and a 52 week high of $174.58.

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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