$0.73 EPS Expected for McCormick & Company, Incorporated (NYSE:MKC) This Quarter

Brokerages expect that McCormick & Company, Incorporated (NYSE:MKC) will announce earnings of $0.73 per share for the current quarter, Zacks reports. Four analysts have made estimates for McCormick & Company, Incorporated’s earnings, with the lowest EPS estimate coming in at $0.69 and the highest estimate coming in at $0.74. McCormick & Company, Incorporated posted earnings of $0.77 per share in the same quarter last year, which suggests a negative year over year growth rate of 5.2%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, September 30th.

According to Zacks, analysts expect that McCormick & Company, Incorporated will report full-year earnings of $3.03 per share for the current fiscal year, with EPS estimates ranging from $3.02 to $3.05. For the next fiscal year, analysts forecast that the business will report earnings of $3.17 per share, with EPS estimates ranging from $3.08 to $3.30. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover McCormick & Company, Incorporated.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Wednesday, June 30th. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.07. McCormick & Company, Incorporated had a return on equity of 19.50% and a net margin of 12.48%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis.

MKC has been the subject of several recent research reports. Stifel Nicolaus reiterated a “hold” rating and issued a $89.00 price objective on shares of McCormick & Company, Incorporated in a research report on Friday, July 2nd. Credit Suisse Group lowered their price objective on McCormick & Company, Incorporated from $104.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday.

MKC stock traded up $0.59 during midday trading on Wednesday, hitting $85.67. The company had a trading volume of 10,566 shares, compared to its average volume of 1,244,854. The company has a current ratio of 0.86, a quick ratio of 0.38 and a debt-to-equity ratio of 1.09. McCormick & Company, Incorporated has a 52 week low of $82.03 and a 52 week high of $101.67. The stock’s 50 day moving average price is $86.04 and its 200 day moving average price is $87.64. The stock has a market cap of $22.90 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 4.13 and a beta of 0.48.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 26th. Investors of record on Monday, July 12th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, July 9th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.59%. McCormick & Company, Incorporated’s dividend payout ratio is presently 48.06%.

In related news, Director Freeman A. Hrabowski III sold 2,870 shares of the company’s stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $87.50, for a total transaction of $251,125.00. Following the completion of the transaction, the director now owns 92,983 shares in the company, valued at $8,136,012.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 13.90% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in MKC. Wealthcare Advisory Partners LLC bought a new position in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $57,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of McCormick & Company, Incorporated by 3.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 913,064 shares of the company’s stock valued at $81,409,000 after acquiring an additional 33,096 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of McCormick & Company, Incorporated by 27.7% during the first quarter. IFP Advisors Inc now owns 4,580 shares of the company’s stock valued at $407,000 after acquiring an additional 993 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of McCormick & Company, Incorporated by 45.9% during the first quarter. Kornitzer Capital Management Inc. KS now owns 8,900 shares of the company’s stock valued at $794,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of McCormick & Company, Incorporated by 4.5% during the first quarter. Daiwa Securities Group Inc. now owns 12,817 shares of the company’s stock valued at $1,143,000 after acquiring an additional 548 shares in the last quarter. Institutional investors own 74.10% of the company’s stock.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacture, market and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses. It operates through the following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.

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Earnings History and Estimates for McCormick & Company, Incorporated (NYSE:MKC)

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