$ 1.55 billion in expected sales for McCormick & Company, Incorporated (NYSE: MKC) this quarter
Brokerages expect McCormick & Company, Incorporated (NYSE: MKC) to post revenue of $ 1.55 billion for the current quarter, according to Zacks Investment Research. Four analysts have estimated the earnings of McCormick & Company, Incorporated. The highest sales estimate is $ 1.56 billion and the lowest is $ 1.53 billion. McCormick & Company, Incorporated reported sales of $ 1.43 billion in the same quarter last year, suggesting a positive growth rate of 8.4% year-over-year. The company is expected to release its next results on Tuesday, October 5.
According to Zacks, analysts expect McCormick & Company, Incorporated to report annual revenue of $ 6.27 billion for the current fiscal year, with estimates ranging from $ 6.23 billion to $ 6 billion. , $ 32 billion. For the next fiscal year, analysts predict the company will post revenue of $ 6.34 billion, with estimates ranging from $ 6.20 billion to $ 6.49 billion. Zacks sales averages are an average based on a survey of research companies that follow McCormick & Company, Incorporated.
McCormick & Company, Incorporated (NYSE: MKC) last released its quarterly earnings data on Wednesday, June 30. The company reported earnings per share of $ 0.69 for the quarter, beating the Zacks’ consensus estimate of $ 0.62 by $ 0.07. The company posted revenue of $ 1.56 billion for the quarter, compared to analyst estimates of $ 1.47 billion. McCormick & Company, Incorporated had a net margin of 12.48% and a return on equity of 19.50%. The company’s revenue for the quarter increased 11.1% year-over-year. During the same period of the previous year, the company posted EPS of $ 0.73.
Separately, Stifel Nicolaus reiterated a “hold” note and issued a price target of $ 89 on shares of McCormick & Company, Incorporated in a research report on Friday, July 2.
NYSE MKC opened at $ 87.56 on Friday. The company has a fifty-day moving average price of $ 86.46. The stock has a market cap of $ 23.40 billion, a price / earnings ratio of 31.44, a P / E / G ratio of 4.17 and a beta of 0.48. The company has a quick ratio of 0.38, a current ratio of 0.86, and a debt ratio of 1.09. McCormick & Company, Incorporated has a 12-month low of $ 82.03 and a 12-month high of $ 105.54.
The company also recently announced a quarterly dividend, which was paid on Monday, July 26. Shareholders of record on Monday July 12 received a dividend of $ 0.34. This represents a dividend of $ 1.36 on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday July 9. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 48.06%.
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. NEXT Financial Group Inc raised its stake in McCormick & Company, Incorporated by 36.7% during the first quarter. NEXT Financial Group Inc now owns 4,213 shares of the company valued at $ 376,000 after purchasing an additional 1,131 shares during the last quarter. The Oregon Public Employees Retirement Fund increased its holdings of McCormick & Company, Incorporated shares by 6.6% in the 1st quarter. The Oregon Public Employees Retirement Fund now owns 20,657 shares of the company valued at $ 1,842,000 after acquiring an additional 1,283 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in McCormick & Company, Incorporated in the 1st quarter for a value of approximately $ 634,000. Piscataqua Savings Bank acquired a new position in McCormick & Company, Incorporated in the 1st quarter valued at approximately $ 87,000. Finally, Crestwood Advisors Group LLC increased its holdings of shares of McCormick & Company, Incorporated by 0.6% during the first quarter. Crestwood Advisors Group LLC now owns 407,639 shares of the company valued at $ 36,346,000 after purchasing 2,389 additional shares in the last quarter. Institutional investors and hedge funds hold 72.59% of the company’s shares.
Company Profile McCormick & Company, Incorporated
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 rice, spices, herbs and seasonings, as well as desserts.
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