McCormick & Company, Incorporated (MKC) Scheduled to Post Quarterly Earnings on Tuesday

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) is scheduled to post its quarterly earnings results before the market opens on Tuesday, October 1st. Analysts expect McCormick & Company, Incorporated to post earnings of $0.67 per share for the quarter. McCormick & Company, Incorporated has set its FY 2024 guidance at 2.800-2.850 EPS and its FY24 guidance at $2.80-2.85 EPS.Investors interested in registering for the company's conference call can do so using this link.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.10. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business's quarterly revenue was down 1.0% compared to the same quarter last year. 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 Price Performance

Shares of McCormick & Company, Incorporated stock traded up $0.21 during trading on Tuesday, hitting $83.40. 667,373 shares of the company were exchanged, compared to its average volume of 1,922,137. The firm has a 50 day moving average price of $78.91 and a 200 day moving average price of $74.53. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $22.40 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 4.26 and a beta of 0.76. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $85.49.

Insider Buying and Selling

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction dated 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 sale, the director now owns 199,258 shares in the company, valued at $14,944,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on MKC. Bank of America upped their price objective on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, September 17th. Citigroup raised McCormick & Company, Incorporated from a "sell" rating to a "neutral" rating and upped their target price for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. Finally, TD Cowen cut their target price 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $76.14.

About McCormick & Company, Incorporated

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.