Analysts Expect McCormick & Company, Incorporated (NYSE:MKC) to Post $0.64 EPS

Wall Street brokerages forecast that McCormick & Company, Incorporated (NYSE:MKC) will post earnings of $0.64 per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for McCormick & Company, Incorporated’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.68. McCormick & Company, Incorporated reported earnings of $0.74 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 13.5%. The firm is expected to report its next earnings results on Thursday, June 24th.

On average, analysts expect that McCormick & Company, Incorporated will report full-year earnings of $3.00 per share for the current year, with EPS estimates ranging from $2.95 to $3.02. For the next year, analysts anticipate that the company will post earnings of $3.11 per share, with EPS estimates ranging from $3.04 to $3.15. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover McCormick & Company, Incorporated.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Monday, March 29th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.14. McCormick & Company, Incorporated had a return on equity of 20.93% and a net margin of 13.75%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm posted $0.54 earnings per share.

Separately, Argus reiterated a “hold” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, March 23rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $91.08.

Shares of NYSE MKC traded down $0.53 during trading on Tuesday, reaching $90.37. The stock had a trading volume of 1,102,862 shares, compared to its average volume of 1,360,004. McCormick & Company, Incorporated has a fifty-two week low of $78.75 and a fifty-two week high of $105.54. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.42 and a current ratio of 0.90. The business’s 50-day moving average price is $89.12 and its 200-day moving average price is $91.48. The company has a market cap of $24.13 billion, a P/E ratio of 31.93, a PEG ratio of 5.74 and a beta of 0.44.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 26th. Shareholders of record on Monday, April 12th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Friday, April 9th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 50.94%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in McCormick & Company, Incorporated by 96.2% during the 4th quarter. BlackRock Inc. now owns 20,826,434 shares of the company’s stock worth $1,991,007,000 after buying an additional 10,210,806 shares during the last quarter. Fundsmith LLP lifted its holdings in McCormick & Company, Incorporated by 113.9% during the 4th quarter. Fundsmith LLP now owns 16,133,793 shares of the company’s stock worth $1,542,391,000 after buying an additional 8,591,698 shares during the last quarter. Northern Trust Corp lifted its holdings in McCormick & Company, Incorporated by 95.4% during the 4th quarter. Northern Trust Corp now owns 2,882,783 shares of the company’s stock worth $275,595,000 after buying an additional 1,407,210 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in McCormick & Company, Incorporated by 102.6% during the 4th quarter. Bank of New York Mellon Corp now owns 2,104,223 shares of the company’s stock worth $201,164,000 after buying an additional 1,065,692 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in McCormick & Company, Incorporated by 94.0% during the 4th quarter. California Public Employees Retirement System now owns 2,003,217 shares of the company’s stock worth $191,508,000 after buying an additional 970,443 shares during the last quarter. 37.49% of the stock is owned by institutional investors.

McCormick & Company, Incorporated 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 & Company, Incorporated (NYSE:MKC)

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