McCormick & Company, Incorporated (NYSE:MKC) Expected to Post Earnings of $0.64 Per Share


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Brokerages predict that McCormick & Company, Incorporated (NYSE:MKC) will report earnings per share (EPS) of $0.64 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for McCormick & Company, Incorporated’s earnings. The lowest EPS estimate is $0.60 and the highest is $0.68. McCormick & Company, Incorporated posted earnings of $0.74 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 13.5%. The company is expected to issue its next quarterly 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 business will report 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 sell-side research firms that follow McCormick & Company, Incorporated.

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

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

Shares of MKC traded down $0.53 during mid-day trading on Tuesday, hitting $90.37. The company’s stock had a trading volume of 1,102,862 shares, compared to its average volume of 1,360,004. The company’s 50-day moving average is $89.12 and its 200-day moving average is $91.48. McCormick & Company, Incorporated has a 52-week low of $78.75 and a 52-week high of $105.54. The firm has a market capitalization of $24.13 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 5.74 and a beta of 0.44. The company has a current ratio of 0.90, a quick ratio of 0.42 and a debt-to-equity ratio of 0.95.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Focused Wealth Management Inc raised its holdings in shares of McCormick & Company, Incorporated by 100.0% in the fourth quarter. Focused Wealth Management Inc now owns 282 shares of the company’s stock worth $27,000 after buying an additional 141 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of McCormick & Company, Incorporated by 100.0% in the fourth quarter. Capital Advisors Ltd. LLC now owns 282 shares of the company’s stock worth $27,000 after buying an additional 141 shares during the last quarter. MPS Loria Financial Planners LLC raised its holdings in shares of McCormick & Company, Incorporated by 212.0% in the fourth quarter. MPS Loria Financial Planners LLC now owns 312 shares of the company’s stock worth $29,000 after buying an additional 212 shares during the last quarter. Regent Peak Wealth Advisors LLC purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $30,000. Finally, Valeo Financial Advisors LLC raised its holdings in shares of McCormick & Company, Incorporated by 75.1% in the fourth quarter. Valeo Financial Advisors LLC now owns 331 shares of the company’s stock worth $32,000 after buying an additional 142 shares during the last quarter. 37.49% of the stock is owned by institutional investors and hedge funds.

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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