Earnings Report: Here’s what to expect from MCCORMICK & CO /SH (NYSE:MKC)

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Earnings results for MCCORMICK & CO /SH (NYSE:MKC)

McCormick & Company, Incorporated is expected* to report earnings on 09/29/2020 before market open. The report will be for the fiscal Quarter ending Aug 2020. According to Zacks Investment Research, based on 5 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.52. The reported EPS for the same quarter last year was $1.46.

MCCORMICK & CO /SH last issued its quarterly earnings results on June 25th, 2020. The reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.31. The firm earned $1.40 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Its quarterly revenue was up 7.6% compared to the same quarter last year. MCCORMICK & CO /SH has generated $5.35 earnings per share over the last year and currently has a price-to-earnings ratio of 35.1. MCCORMICK & CO /SH has confirmed that its next quarterly earnings report will be published on Tuesday, September 29th, 2020.

Analyst Opinion on MCCORMICK & CO /SH (NYSE:MKC)

10 Wall Street analysts have issued ratings and price targets for MCCORMICK & CO /SH in the last 12 months. Their average twelve-month price target is $160.80, predicting that the stock has a possible downside of 17.61%. The high price target for MKC is $215.00 and the low price target for MKC is $130.00. There are currently 3 sell ratings, 4 hold ratings and 3 buy ratings for the stock, resulting in a consensus rating of “Hold.”

MCCORMICK & CO /SH has received a consensus rating of Hold. The company’s average rating score is 2.00, and is based on 3 buy ratings, 4 hold ratings, and 3 sell ratings. According to analysts’ consensus price target of $160.80, MCCORMICK & CO /SH has a forecasted downside of 17.6% from its current price of $195.18. MCCORMICK & CO /SH has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: MCCORMICK & CO /SH (NYSE:MKC)

MCCORMICK & CO /SH has a dividend yield of 1.29%, which is in the bottom 25% of all stocks that pay dividends. MCCORMICK & CO /SH has only been increasing its dividend for 1 years. The dividend payout ratio of MCCORMICK & CO /SH is 46.36%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MCCORMICK & CO /SH will have a dividend payout ratio of 44.13% next year. This indicates that MCCORMICK & CO /SH will be able to sustain or increase its dividend.

Insiders buying/selling: MCCORMICK & CO /SH (NYSE:MKC)

In the past three months, MCCORMICK & CO /SH insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $9,856,179.00 in company stock. Only 12.70% of the stock of MCCORMICK & CO /SH is held by insiders. 74.90% of the stock of MCCORMICK & CO /SH is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of MCCORMICK & CO /SH (NYSE:MKC

Earnings for MCCORMICK & CO /SH are expected to decrease by -2.26% in the coming year, from $5.75 to $5.62 per share. The P/E ratio of MCCORMICK & CO /SH is 35.10, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 18.65. The P/E ratio of MCCORMICK & CO /SH is 35.10, which means that it is trading at a less expensive P/E ratio than the Consumer Staples sector average P/E ratio of about 48.68. MCCORMICK & CO /SH has a PEG Ratio of 6.03. PEG Ratios above 1 indicate that a company could be overvalued. MCCORMICK & CO /SH has a P/B Ratio of 7.50. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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