McCormick & Company, Incorporated (MKC) Set to Announce Earnings on Tuesday

McCormick & Company, Incorporated (NYSE:MKC) will be posting its quarterly earnings results before the market opens on Tuesday, October 1st. Analysts expect McCormick & Company, Incorporated to post earnings of $0.67 per share for the quarter. Individual interested in registering for the company’s earnings 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 for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. 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 Down 0.0 %

Shares of MKC stock opened at $83.24 on Friday. The company has a market cap of $22.36 billion, a P/E ratio of 30.38, a PEG ratio of 4.24 and a beta of 0.76. The stock has a 50 day simple moving average of $79.67 and a two-hundred day simple moving average of $74.85. 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 fifty-two week low of $59.13 and a fifty-two week high of $85.49.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be issued a $0.42 dividend. The ex-dividend date is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.02%. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.

Analysts Set New Price Targets

A number of equities research analysts have commented on MKC shares. TD Cowen reduced their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price objective for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. Finally, Bank of America raised their price objective on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.14.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the director now directly owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 22.90% of the company’s stock.

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.