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

McCormick & Company, Incorporated (NYSE:MKC) will be issuing its quarterly earnings data before the market opens on Tuesday, October 1st. Analysts expect the company to announce earnings of $0.67 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. McCormick & Company, Incorporated’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior 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 Stock Performance

Shares of MKC opened at $83.24 on Monday. The stock’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 price-to-earnings ratio of 30.38, a price-to-earnings-growth ratio of 4.24 and a beta of 0.76. 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 52-week low of $59.13 and a 52-week high of $85.49.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors 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 annualized dividend and a yield of 2.02%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. TD Cowen dropped their price target 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. Bank of America lifted 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. Finally, Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.14.

Insiders Place Their Bets

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.