McCormick & Company, Incorporated (NYSE:MKC) Updates FY25 Earnings Guidance

McCormick & Company, Incorporated (NYSE:MKC) issued an update on its FY25 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.03-3.08 for the period, compared to the consensus earnings per share estimate of $3.07. The company issued revenue guidance of flat to +2% yr/yr to ~$6.72-6.86 billion, compared to the consensus revenue estimate of $6.82 billion.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, Barclays lowered their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Trading Up 0.2 %

Shares of McCormick & Company, Incorporated stock opened at $80.35 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The company has a market cap of $21.54 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 3.76 and a beta of 0.71. The company’s fifty day simple moving average is $78.58 and its 200-day simple moving average is $78.87. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The company’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. The trade was a 81.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 23.80% of the stock is currently owned by corporate insiders.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.