McCormick & Company, Incorporated (NYSE:MKC) posted its quarterly earnings results on Wednesday. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.08, MarketWatch Earnings reports. McCormick & Company, Incorporated had a net margin of 12.48% and a return on equity of 19.50%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm posted $0.76 earnings per share. McCormick & Company, Incorporated’s revenue for the quarter was up 11.5% compared to the same quarter last year.
Shares of McCormick & Company, Incorporated stock traded down $0.24 during trading hours on Friday, reaching $80.79. The company’s stock had a trading volume of 10,897 shares, compared to its average volume of 1,254,342. McCormick & Company, Incorporated has a one year low of $80.32 and a one year high of $101.67. The company’s 50 day simple moving average is $85.51 and its 200 day simple moving average is $87.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.38 and a current ratio of 0.86. The stock has a market cap of $21.59 billion, a P/E ratio of 29.12, a price-to-earnings-growth ratio of 4.13 and a beta of 0.48.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 26th. Shareholders of record on Tuesday, October 12th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, October 8th. This represents a $1.36 annualized dividend and a yield of 1.68%. McCormick & Company, Incorporated’s payout ratio is 48.06%.
Several research analysts have commented on the company. Stifel Nicolaus reissued a “hold” rating and issued a $89.00 price objective on shares of McCormick & Company, Incorporated in a research report on Friday, July 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of McCormick & Company, Incorporated from $91.00 to $89.00 and set a “hold” rating on the stock in a research note on Friday. Finally, Credit Suisse Group cut their target price on shares of McCormick & Company, Incorporated from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Friday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average target price of $92.00.
About McCormick & Company, Incorporated
McCormick & Co, Inc engages in the manufacture, market and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses. It operates through the following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.
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