McCormick & Company, Incorporated (NYSE:MKC) Announces Earnings Results, Misses Estimates By $0.04 EPS

McCormick & Company, Incorporated (NYSE:MKC) posted its quarterly earnings data on Tuesday. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04), Briefing.com reports. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. McCormick & Company, Incorporated updated its FY25 guidance to $3.03-3.08 EPS and its FY 2025 guidance to 3.030-3.080 EPS.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $80.39 on Wednesday. The company’s 50-day moving average is $78.75 and its two-hundred day moving average is $78.85. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. 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 firm has a market capitalization of $21.56 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 3.76 and a beta of 0.71.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MKC shares. JPMorgan Chase & Co. lifted 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. Barclays lowered their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $91.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.75.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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.