McCormick & Company, Incorporated (MKC) Expected to Post Earnings of $1.05 Per Share

Wall Street analysts predict that McCormick & Company, Incorporated (NYSE:MKC) will report $1.05 earnings per share for the current quarter, Zacks reports. Four analysts have provided estimates for McCormick & Company,’s earnings, with the highest EPS estimate coming in at $1.07 and the lowest estimate coming in at $1.01. McCormick & Company, reported earnings per share of $1.03 in the same quarter last year, which would suggest a positive year over year growth rate of 1.9%. The firm is scheduled to announce its next quarterly earnings results on Friday, September 29th.

On average, analysts expect that McCormick & Company, will report full year earnings of $4.07 per share for the current year, with EPS estimates ranging from $4.00 to $4.10. For the next financial year, analysts forecast that the business will report earnings of $4.55 per share, with EPS estimates ranging from $4.35 to $4.70. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for McCormick & Company,.

McCormick & Company, (NYSE:MKC) last released its earnings results on Thursday, June 29th. The company reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.06. McCormick & Company, had a return on equity of 28.28% and a net margin of 10.69%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year.

A number of equities analysts recently commented on the company. Zacks Investment Research upgraded McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a report on Monday, June 19th. Edward Jones upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Credit Suisse Group set a $108.00 price target on McCormick & Company, and gave the stock a “buy” rating in a report on Saturday, July 1st. Jefferies Group LLC upgraded McCormick & Company, from a “hold” rating to a “buy” rating and lifted their price target for the stock from $95.00 to $110.00 in a report on Friday, July 28th. Finally, BidaskClub upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. McCormick & Company, presently has a consensus rating of “Buy” and a consensus price target of $103.11.

A number of large investors have recently modified their holdings of MKC. Vanguard Group Inc. increased its stake in shares of McCormick & Company, by 2.5% in the second quarter. Vanguard Group Inc. now owns 12,264,131 shares of the company’s stock valued at $1,195,875,000 after buying an additional 301,377 shares during the period. BlackRock Inc. increased its stake in shares of McCormick & Company, by 956.5% in the first quarter. BlackRock Inc. now owns 10,405,413 shares of the company’s stock valued at $1,015,049,000 after buying an additional 9,420,526 shares during the period. State Street Corp increased its stake in shares of McCormick & Company, by 5.4% in the first quarter. State Street Corp now owns 7,256,472 shares of the company’s stock valued at $707,872,000 after buying an additional 368,990 shares during the period. Parnassus Investments CA increased its stake in shares of McCormick & Company, by 14.7% in the first quarter. Parnassus Investments CA now owns 2,426,180 shares of the company’s stock valued at $230,627,000 after buying an additional 310,021 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of McCormick & Company, by 6.6% in the first quarter. Geode Capital Management LLC now owns 1,207,462 shares of the company’s stock valued at $117,631,000 after buying an additional 74,953 shares during the period. Hedge funds and other institutional investors own 72.87% of the company’s stock.

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McCormick & Company, (MKC) traded up 0.75% during trading on Friday, reaching $95.36. The company had a trading volume of 684,352 shares. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 25.33 and a beta of 0.52. McCormick & Company, has a 12 month low of $88.64 and a 12 month high of $106.50. The stock has a 50 day moving average price of $95.65 and a 200 day moving average price of $99.09.

About McCormick & Company,

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, (NYSE:MKC)

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