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

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) updated its FY25 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.03-3.08 for the period, compared to the consensus 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. McCormick & Company, Incorporated also updated its FY 2025 guidance to 3.030-3.080 EPS.

McCormick & Company, Incorporated Stock Down 0.2 %

Shares of NYSE MKC traded down $0.16 during trading hours on Friday, hitting $81.47. 2,176,119 shares of the stock were exchanged, compared to its average volume of 1,899,000. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The company has a market cap of $21.85 billion, a PE ratio of 27.80, a PEG ratio of 3.76 and a beta of 0.71. The firm has a fifty day moving average price of $79.26 and a 200-day moving average price of $78.83.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). The business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. McCormick & Company, Incorporated's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Remove Ads

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's payout ratio is 61.86%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MKC. Barclays decreased their price objective on shares of 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. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. lifted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research report on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of "Hold" and a consensus target price of $83.75.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director now owns 6,177 shares of the company's stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 23.80% of the stock is currently owned by insiders.

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.