J M Smucker (NYSE:SJM) Updates FY 2020 Earnings Guidance

J M Smucker (NYSE:SJM) updated its FY 2020 earnings guidance on Tuesday. The company provided earnings per share guidance of $8.35-8.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $8.47. The company issued revenue guidance of $7.283529-7.3571 billion, compared to the consensus revenue estimate of $7.86 billion.J M Smucker also updated its FY20 guidance to $8.35-8.55 EPS.

A number of equities research analysts have weighed in on the company. Stifel Nicolaus cut their target price on J M Smucker from $120.00 to $110.00 and set a hold rating for the company in a research report on Wednesday. Guggenheim cut their price objective on J M Smucker from $99.00 to $93.00 and set a sell rating for the company in a research report on Wednesday. Citigroup cut their price objective on J M Smucker from $142.00 to $132.00 and set a buy rating for the company in a research report on Thursday. Credit Suisse Group cut their price objective on J M Smucker from $120.00 to $114.00 and set a neutral rating for the company in a research report on Monday, July 22nd. Finally, Zacks Investment Research downgraded J M Smucker from a buy rating to a hold rating in a research report on Monday, May 20th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $116.70.

SJM opened at $104.37 on Thursday. The stock has a fifty day moving average of $113.09 and a 200-day moving average of $115.76. The firm has a market capitalization of $12.88 billion, a P/E ratio of 12.59, a PEG ratio of 3.30 and a beta of 0.42. J M Smucker has a 12-month low of $91.32 and a 12-month high of $128.43. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.59.

J M Smucker (NYSE:SJM) last released 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). The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.88 billion. J M Smucker had a net margin of 6.56% and a return on equity of 11.80%. J M Smucker’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.78 EPS. On average, analysts expect that J M Smucker will post 8.5 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.37%. This is a positive change from J M Smucker’s previous quarterly dividend of $0.85. J M Smucker’s dividend payout ratio is presently 42.46%.

In other news, insider Mark R. Belgya sold 750 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $113.55, for a total value of $85,162.50. Following the transaction, the insider now directly owns 54,192 shares of the company’s stock, valued at $6,153,501.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark T. Smucker sold 2,200 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $113.28, for a total transaction of $249,216.00. Following the completion of the transaction, the chief executive officer now directly owns 140,975 shares in the company, valued at $15,969,648. The disclosure for this sale can be found here. Insiders sold 4,019 shares of company stock valued at $457,363 in the last 90 days. Corporate insiders own 3.70% of the company’s stock.

About J M Smucker

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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