$2.00 Billion in Sales Expected for J M Smucker Co (NYSE:SJM) This Quarter

Analysts predict that J M Smucker Co (NYSE:SJM) will report $2.00 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for J M Smucker’s earnings, with estimates ranging from $1.96 billion to $2.03 billion. J M Smucker posted sales of $2.02 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 1%. The company is expected to issue its next quarterly earnings report before the market opens on Friday, November 22nd.

On average, analysts expect that J M Smucker will report full-year sales of $7.78 billion for the current year, with estimates ranging from $7.68 billion to $7.90 billion. For the next financial year, analysts forecast that the business will report sales of $7.94 billion, with estimates ranging from $7.88 billion to $8.04 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover J M Smucker.

J M Smucker (NYSE:SJM) last announced its earnings results on Tuesday, August 27th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.75 by ($0.17). J M Smucker had a return on equity of 11.49% and a net margin of 6.95%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the company earned $1.78 EPS. The business’s revenue for the quarter was down 6.5% on a year-over-year basis.

SJM has been the topic of a number of analyst reports. Guggenheim decreased their target price on shares of J M Smucker from $99.00 to $93.00 and set a “sell” rating on the stock in a research report on Wednesday, August 28th. TheStreet lowered shares of J M Smucker from a “b-” rating to a “c+” rating in a research report on Tuesday, August 6th. Zacks Investment Research upgraded shares of J M Smucker from a “sell” rating to a “hold” rating and set a $110.00 target price on the stock in a research report on Friday. Bank of America cut their price target on shares of J M Smucker from $128.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, August 28th. Finally, Stifel Nicolaus cut their price target on shares of J M Smucker from $120.00 to $110.00 and set a “hold” rating for the company in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $110.60.

In related news, CFO Mark R. Belgya sold 750 shares of J M Smucker stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.00, for a total value of $82,500.00. Following the completion of the sale, the chief financial officer now directly owns 53,442 shares in the company, valued at $5,878,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin G. Jackson sold 487 shares of J M Smucker stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $108.70, for a total value of $52,936.90. The disclosure for this sale can be found here. Insiders sold a total of 1,987 shares of company stock worth $220,599 in the last quarter. Company insiders own 3.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. 1 North Wealth Services LLC purchased a new position in shares of J M Smucker in the 3rd quarter valued at about $28,000. Guinness Asset Management Ltd raised its holdings in shares of J M Smucker by 52.7% in the second quarter. Guinness Asset Management Ltd now owns 258 shares of the company’s stock worth $30,000 after acquiring an additional 89 shares during the last quarter. Whitener Capital Management Inc. raised its holdings in shares of J M Smucker by 52.4% in the second quarter. Whitener Capital Management Inc. now owns 291 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. Stonebridge Capital Advisors LLC purchased a new stake in shares of J M Smucker in the second quarter valued at $37,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in J M Smucker during the third quarter valued at about $42,000. 77.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:SJM traded up $0.51 on Thursday, reaching $105.00. 764,688 shares of the company’s stock were exchanged, compared to its average volume of 734,218. The company has a fifty day moving average of $107.19 and a 200-day moving average of $114.34. J M Smucker has a twelve month low of $91.32 and a twelve month high of $128.43. The company has a market capitalization of $11.92 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 3.40 and a beta of 0.41. The company has a current ratio of 0.70, a quick ratio of 0.26 and a debt-to-equity ratio of 0.60.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, November 14th. J M Smucker’s dividend payout ratio is currently 42.46%.

J M Smucker Company Profile

The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.

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Earnings History and Estimates for J M Smucker (NYSE:SJM)

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