McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) posted its earnings results on Tuesday. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15, Briefing.com reports. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. McCormick & Company, Incorporated updated its FY 2024 guidance to 2.850-2.900 EPS and its FY24 guidance to $2.85-2.90 EPS.
McCormick & Company, Incorporated Price Performance
MKC stock opened at $82.06 on Thursday. The company’s 50-day moving average price is $80.21 and its two-hundred day moving average price is $75.20. The firm has a market cap of $22.04 billion, a P/E ratio of 29.95, a P/E/G ratio of 4.24 and a beta of 0.76. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $85.49.
McCormick & Company, Incorporated Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.05%. McCormick & Company, Incorporated’s payout ratio is 61.31%.
Insider Transactions at McCormick & Company, Incorporated
Wall Street Analyst Weigh In
MKC has been the subject of several recent research reports. Bank of America boosted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their target price for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, TD Cowen lifted their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $79.57.
Get Our Latest Research Report on McCormick & Company, Incorporated
McCormick & Company, Incorporated Company Profile
McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.
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