$0.93 EPS Expected for McCormick & Company, Incorporated (MKC) This Quarter

Wall Street analysts expect McCormick & Company, Incorporated (NYSE:MKC) to report $0.93 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have issued estimates for McCormick & Company, Incorporated’s earnings. The lowest EPS estimate is $0.92 and the highest is $0.94. McCormick & Company, Incorporated reported earnings of $0.82 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.4%. The business is expected to report its next quarterly earnings results on Thursday, July 5th.

According to Zacks, analysts expect that McCormick & Company, Incorporated will report full-year earnings of $4.93 per share for the current financial year, with EPS estimates ranging from $4.90 to $4.95. For the next fiscal year, analysts expect that the firm will report earnings of $5.46 per share, with EPS estimates ranging from $5.19 to $5.96. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow McCormick & Company, Incorporated.

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McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 27th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.09. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. McCormick & Company, Incorporated had a return on equity of 23.39% and a net margin of 16.04%. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 EPS.

A number of analysts recently commented on MKC shares. Zacks Investment Research upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday, February 13th. Jefferies Group reiterated a “buy” rating and set a $120.00 price objective on shares of McCormick & Company, Incorporated in a research report on Thursday, January 25th. Stifel Nicolaus lifted their price objective on McCormick & Company, Incorporated from $103.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, January 26th. Sanford C. Bernstein lifted their price objective on McCormick & Company, Incorporated from $113.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 28th. Finally, UBS lifted their price objective on McCormick & Company, Incorporated from $100.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $111.89.

In other McCormick & Company, Incorporated news, VP Michael R. Smith sold 2,575 shares of McCormick & Company, Incorporated stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $107.96, for a total value of $277,997.00. Following the completion of the sale, the vice president now owns 17,312 shares in the company, valued at approximately $1,869,003.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patricia A. Little sold 6,250 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $108.63, for a total value of $678,937.50. Following the completion of the sale, the director now owns 15,497 shares of the company’s stock, valued at approximately $1,683,439.11. The disclosure for this sale can be found here. 19.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Clifford Swan Investment Counsel LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth about $459,000. Amalgamated Bank grew its holdings in shares of McCormick & Company, Incorporated by 9.7% during the 4th quarter. Amalgamated Bank now owns 15,846 shares of the company’s stock worth $1,615,000 after purchasing an additional 1,399 shares during the period. Bath Savings Trust Co grew its holdings in shares of McCormick & Company, Incorporated by 4.2% during the 4th quarter. Bath Savings Trust Co now owns 92,744 shares of the company’s stock worth $9,452,000 after purchasing an additional 3,740 shares during the period. Sawgrass Asset Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 5.6% during the 4th quarter. Sawgrass Asset Management LLC now owns 558,546 shares of the company’s stock worth $56,921,000 after purchasing an additional 29,618 shares during the period. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth about $495,000. Institutional investors own 79.77% of the company’s stock.

McCormick & Company, Incorporated stock opened at $107.26 on Friday. The stock has a market cap of $13,870.91, a P/E ratio of 23.62, a P/E/G ratio of 2.27 and a beta of 0.56. McCormick & Company, Incorporated has a 52 week low of $90.25 and a 52 week high of $111.46. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 0.42.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 23rd. Shareholders of record on Monday, April 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, April 6th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 48.83%.

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About McCormick & Company, Incorporated

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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

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