McCormick & Company, Incorporated (MKC) Scheduled to Post Earnings on Tuesday

McCormick & Company, Incorporated (NYSE:MKC) will be releasing its earnings data before the market opens on Tuesday, October 1st. Analysts expect McCormick & Company, Incorporated to post earnings of $0.67 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the firm earned $0.60 earnings per share. McCormick & Company, Incorporated’s quarterly revenue was down 1.0% on a year-over-year basis. 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 Stock Down 0.0 %

MKC opened at $83.24 on Monday. 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 one year low of $59.13 and a one year high of $85.49. The business’s 50-day simple moving average is $79.67 and its 200-day simple moving average is $74.94. The stock has a market capitalization of $22.36 billion, a P/E ratio of 30.38, a price-to-earnings-growth ratio of 4.24 and a beta of 0.76.

McCormick & Company, Incorporated Dividend Announcement

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

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 22.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MKC has been the subject of several research reports. TD Cowen lowered their price objective on shares of 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. Bank of America increased their price objective on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their target price for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. One research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $76.14.

About McCormick & Company, Incorporated

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.