McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10, RTT News reports. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company earned $0.60 earnings per share. The firm’s revenue was down 1.0% compared to the same quarter last year. McCormick & Company, Incorporated updated its FY 2024 guidance to 2.800-2.850 EPS and its FY24 guidance to $2.80-2.85 EPS.
McCormick & Company, Incorporated Trading Up 4.3 %
Shares of McCormick & Company, Incorporated stock opened at $70.60 on Friday. The firm has a 50-day moving average of $72.29 and a 200-day moving average of $70.12. The stock has a market cap of $18.95 billion, a PE ratio of 26.95, a PEG ratio of 3.54 and a beta of 0.74. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $92.46. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68.
McCormick & Company, Incorporated Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be given a $0.42 dividend. The ex-dividend date is Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.38%. McCormick & Company, Incorporated’s payout ratio is presently 64.12%.
Insider Activity
Analyst Ratings Changes
A number of analysts have recently issued reports on MKC shares. TD Cowen lowered their price objective on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday. Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. Barclays lifted their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. Finally, Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $76.25.
View Our Latest Stock Report on MKC
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.
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