MCCORMICK & CO /SH (NYSE:MKC) Releases Earnings Results, Beats Expectations By $0.31 EPS

MCCORMICK & CO /SH (NYSE:MKC) posted its quarterly earnings results on Thursday. The company reported $1.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.31, MarketWatch Earnings reports. MCCORMICK & CO /SH had a return on equity of 21.58% and a net margin of 13.74%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year.

Shares of MCCORMICK & CO /SH stock opened at $176.25 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.33 and a debt-to-equity ratio of 1.01. The business’s 50 day simple moving average is $171.65 and its 200-day simple moving average is $161.02. The stock has a market capitalization of $23.73 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 6.37 and a beta of 0.36. MCCORMICK & CO /SH has a twelve month low of $112.22 and a twelve month high of $182.92.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, July 6th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Thursday, July 2nd. MCCORMICK & CO /SH’s payout ratio is 46.36%.

A number of analysts recently weighed in on the company. Cfra decreased their price target on MCCORMICK & CO /SH from $155.00 to $140.00 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. Zacks Investment Research raised MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a report on Wednesday, May 6th. Deutsche Bank lifted their price objective on MCCORMICK & CO /SH from $156.00 to $182.00 and gave the stock a “hold” rating in a report on Friday. JPMorgan Chase & Co. reduced their price objective on MCCORMICK & CO /SH from $137.00 to $134.00 and set an “underweight” rating for the company in a report on Friday, April 17th. Finally, Bank of America cut MCCORMICK & CO /SH from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $175.00 to $140.00 in a report on Thursday, March 19th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $155.91.

About MCCORMICK & CO /SH

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 spices, herbs, and seasonings, as well as desserts.

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Earnings History for MCCORMICK & CO /SH (NYSE:MKC)

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