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

McCormick & Company, Incorporated (NYSE:MKC) 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.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MKC. JPMorgan Chase & Co. raised their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and an average target price of $83.75.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $80.35 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The company has a market cap of $21.54 billion, a PE ratio of 27.42, a P/E/G ratio of 3.76 and a beta of 0.71. The stock has a fifty day moving average price of $78.58 and a 200 day moving average price of $78.87. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24.

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

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction dated 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 approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.