McCormick & Company, Incorporated (NYSE:MKC) Issues Quarterly Earnings Results, Misses Expectations By $0.04 EPS

McCormick & Company, Incorporated (NYSE:MKC) issued its earnings results on Tuesday. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04), Briefing.com reports. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. McCormick & Company, Incorporated updated its FY25 guidance to $3.03-3.08 EPS.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $80.35 on Tuesday. The firm has a market capitalization of $21.54 billion, a P/E ratio of 27.42, a P/E/G ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The stock has a 50 day moving average price of $78.58 and a two-hundred day moving average price of $78.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, Barclays cut 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 given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.75.

Insiders Place Their Bets

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 transaction 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 legal filing with the SEC, which is available through this link. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Company Profile

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.