Zacks: Brokerages Expect MCCORMICK & CO /SH NV (NYSE:MKC) Will Post Earnings of $1.64 Per Share

Equities research analysts predict that MCCORMICK & CO /SH NV (NYSE:MKC) will post earnings per share of $1.64 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for MCCORMICK & CO /SH’s earnings, with estimates ranging from $1.61 to $1.67. MCCORMICK & CO /SH posted earnings of $1.67 per share in the same quarter last year, which would indicate a negative year over year growth rate of 1.8%. The firm is expected to report its next quarterly earnings report on Thursday, January 23rd.

On average, analysts expect that MCCORMICK & CO /SH will report full year earnings of $5.38 per share for the current financial year, with EPS estimates ranging from $5.35 to $5.41. For the next year, analysts anticipate that the business will post earnings of $5.65 per share, with EPS estimates ranging from $5.59 to $5.72. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover MCCORMICK & CO /SH.

MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.17. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.34 billion. MCCORMICK & CO /SH had a return on equity of 21.63% and a net margin of 13.12%. MCCORMICK & CO /SH’s revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share.

MKC has been the topic of several research analyst reports. Credit Suisse Group raised their price objective on MCCORMICK & CO /SH from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lowered MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $154.00 to $150.00 in a research note on Tuesday, August 20th. Finally, ValuEngine lowered MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $154.86.

In other news, VP Lisa Manzone sold 2,800 shares of MCCORMICK & CO /SH stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $167.05, for a total transaction of $467,740.00. Following the sale, the vice president now directly owns 11,260 shares of the company’s stock, valued at $1,880,983. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Aaron Conway sold 5,000 shares of MCCORMICK & CO /SH stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $168.59, for a total value of $842,950.00. Following the sale, the director now directly owns 9,501 shares in the company, valued at $1,601,773.59. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in MKC. WealthPLAN Partners LLC raised its position in shares of MCCORMICK & CO /SH by 3.6% during the third quarter. WealthPLAN Partners LLC now owns 1,692 shares of the company’s stock worth $277,000 after acquiring an additional 59 shares during the last quarter. ETRADE Capital Management LLC raised its position in shares of MCCORMICK & CO /SH by 1.6% during the second quarter. ETRADE Capital Management LLC now owns 4,082 shares of the company’s stock worth $633,000 after acquiring an additional 63 shares during the last quarter. HM Capital Management LLC raised its position in shares of MCCORMICK & CO /SH by 1.6% during the third quarter. HM Capital Management LLC now owns 3,883 shares of the company’s stock worth $607,000 after acquiring an additional 63 shares during the last quarter. Mason Street Advisors LLC raised its position in shares of MCCORMICK & CO /SH by 0.4% during the third quarter. Mason Street Advisors LLC now owns 17,531 shares of the company’s stock worth $2,740,000 after acquiring an additional 67 shares during the last quarter. Finally, Capital Investment Advisory Services LLC raised its position in shares of MCCORMICK & CO /SH by 40.0% during the second quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock worth $39,000 after acquiring an additional 70 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MKC traded down $0.19 during trading hours on Friday, hitting $171.99. The company’s stock had a trading volume of 359,283 shares, compared to its average volume of 582,271. The stock has a fifty day simple moving average of $163.78 and a 200-day simple moving average of $160.87. The company has a market capitalization of $22.88 billion, a P/E ratio of 34.61, a PEG ratio of 3.81 and a beta of 0.14. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.37. MCCORMICK & CO /SH has a twelve month low of $119.00 and a twelve month high of $173.31.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Tuesday, December 31st will be paid a $0.62 dividend. The ex-dividend date is Monday, December 30th. This is a positive change from MCCORMICK & CO /SH’s previous quarterly dividend of $0.57. This represents a $2.48 annualized dividend and a yield of 1.44%. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is 45.88%.

MCCORMICK & CO /SH 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 & CO /SH (NYSE:MKC)

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