McCormick & Company, Incorporated (MKC) Scheduled to Post Quarterly Earnings on Tuesday

McCormick & Company, Incorporated (NYSE:MKC) is set to issue its quarterly earnings data before the market opens on Tuesday, October 1st. Analysts expect the company to announce earnings of $0.67 per share for the quarter. McCormick & Company, Incorporated has set its FY 2024 guidance at 2.800-2.850 EPS and its FY24 guidance at $2.80-2.85 EPS.Parties interested in participating in the company’s conference call can do so using this link.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts expect McCormick & Company, Incorporated to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

McCormick & Company, Incorporated Trading Up 0.2 %

NYSE MKC opened at $83.19 on Tuesday. The firm has a market capitalization of $22.35 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 4.26 and a beta of 0.76. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $85.49. The company’s 50 day moving average price is $78.91 and its 200 day moving average price is $74.53.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price target for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. TD Cowen cut their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, Bank of America increased their price target on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $76.14.

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.