MCCORMICK & CO /SH (NYSE:MKC) Posts Earnings Results, Beats Expectations By $0.31 EPS

MCCORMICK & CO /SH (NYSE:MKC) released its earnings results on Thursday. The company reported $1.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.31, MarketWatch Earnings reports. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.37 billion. MCCORMICK & CO /SH had a return on equity of 21.58% and a net margin of 13.74%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS.

Shares of NYSE MKC opened at $176.25 on Friday. MCCORMICK & CO /SH has a fifty-two week low of $112.22 and a fifty-two week high of $182.92. The stock has a market capitalization of $23.42 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 6.29 and a beta of 0.36. The business has a 50-day moving average of $171.65 and a 200-day moving average of $161.02. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.74 and a quick ratio of 0.33.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, July 6th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, July 2nd. MCCORMICK & CO /SH’s payout ratio is 46.36%.

A number of equities analysts have issued reports on the company. Credit Suisse Group upgraded MCCORMICK & CO /SH from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $147.00 to $187.00 in a report on Thursday, May 14th. Cfra lowered their target price on MCCORMICK & CO /SH from $155.00 to $140.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Stifel Nicolaus lowered their target price on MCCORMICK & CO /SH from $155.00 to $130.00 and set a “hold” rating for the company in a report on Wednesday, April 1st. Bank of America cut MCCORMICK & CO /SH from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $175.00 to $140.00 in a report on Thursday, March 19th. Finally, UBS Group upgraded MCCORMICK & CO /SH to a “buy” rating and set a $160.00 target price for the company in a report on Friday, May 15th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $155.91.

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 for MCCORMICK & CO /SH (NYSE:MKC)

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