J. M. Smucker (NYSE:SJM) Posts Quarterly Earnings Results, Beats Estimates By $0.39 EPS

J. M. Smucker (NYSE:SJM) posted its earnings results on Tuesday. The company reported $2.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.39, MarketWatch Earnings reports. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.96 billion. J. M. Smucker had a net margin of 10.06% and a return on equity of 11.64%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.39 EPS. J. M. Smucker updated its FY 2022 guidance to $8.350-$8.750 EPS and its FY22 guidance to $8.35-8.75 EPS.

Shares of NYSE:SJM traded down $1.35 during trading on Friday, reaching $130.95. 579,603 shares of the company’s stock traded hands, compared to its average volume of 934,488. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.31. J. M. Smucker has a 12 month low of $110.53 and a 12 month high of $140.65. The company has a 50 day moving average of $123.94 and a 200-day moving average of $128.17. The stock has a market capitalization of $14.19 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 12.55 and a beta of 0.32.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Friday, November 12th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Wednesday, November 10th. J. M. Smucker’s dividend payout ratio is presently 55.70%.

J. M. Smucker announced that its Board of Directors has authorized a share repurchase plan on Friday, October 22nd that allows the company to buyback 5,000,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Several research firms recently weighed in on SJM. Citigroup lifted their target price on shares of J. M. Smucker from $132.00 to $138.00 and gave the company a “neutral” rating in a report on Wednesday. Jefferies Financial Group initiated coverage on shares of J. M. Smucker in a research note on Thursday, August 26th. They set a “hold” rating and a $140.00 price target on the stock. Guggenheim raised shares of J. M. Smucker from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $136.00 to $146.00 in a research note on Tuesday, November 9th. Credit Suisse Group lifted their price target on shares of J. M. Smucker from $125.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Morgan Stanley lifted their price target on shares of J. M. Smucker from $117.00 to $125.00 and gave the stock an “underweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $134.45.

About J. M. Smucker

The J. M. Smucker Co engages in the manufacture and marketing of food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes domestic sales of Folgers, Dunkin’ Donuts, and CafĂ© Bustelo branded coffee.

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Earnings History for J. M. Smucker (NYSE:SJM)

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