Is it time to Buy before this week’s earning report McCormick & Company, Incorporated (NYSE:MKC)

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Earnings results for McCormick & Company, Incorporated (NYSE:MKC)

McCormick & Company, Incorporated is expected* to report earnings on 07/01/2021 before market open. The report will be for the fiscal Quarter ending May 2021. According to Zacks Investment Research, based on 5 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.64. The reported EPS for the same quarter last year was $0.74.

McCormick & Company, Incorporated last released its quarterly earnings results on March 29th, 2021. The reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. McCormick & Company, Incorporated has generated $2.83 earnings per share over the last year and currently has a price-to-earnings ratio of 31.2. McCormick & Company, Incorporated has confirmed that its next quarterly earnings report will be published on Thursday, July 1st, 2021. McCormick & Company, Incorporated will be holding an earnings conference call on Thursday, July 1st at 8:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 201-612-7415 with passcode “13720220”.

Analyst Opinion on McCormick & Company, Incorporated (NYSE:MKC)

3 Wall Street analysts have issued ratings and price targets for McCormick & Company, Incorporated in the last 12 months. Their average twelve-month price target is $103.75, predicting that the stock has a possible upside of 17.47%. The high price target for MKC is $107.50 and the low price target for MKC is $100.00. There are currently 2 hold ratings and 1 buy rating for the stock, resulting in a consensus rating of “Hold.”

McCormick & Company, Incorporated has received a consensus rating of Hold. The company’s average rating score is 2.33, and is based on 1 buy rating, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $103.75, McCormick & Company, Incorporated has a forecasted upside of 17.5% from its current price of $88.32. McCormick & Company, Incorporated has received no research coverage in the past 90 days.

Dividend Strength: McCormick & Company, Incorporated (NYSE:MKC)

McCormick & Company, Incorporated pays a meaningful dividend of 1.55%, higher than the bottom 25% of all stocks that pay dividends. McCormick & Company, Incorporated has been increasing its dividend for 36 years. The dividend payout ratio of McCormick & Company, Incorporated is 48.06%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, McCormick & Company, Incorporated will have a dividend payout ratio of 43.73% next year. This indicates that McCormick & Company, Incorporated will be able to sustain or increase its dividend.

Insiders buying/selling: McCormick & Company, Incorporated (NYSE:MKC)

In the past three months, McCormick & Company, Incorporated insiders have not sold or bought any company stock. Only 13.90% of the stock of McCormick & Company, Incorporated is held by insiders. 74.26% of the stock of McCormick & Company, Incorporated is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of McCormick & Company, Incorporated (NYSE:MKC

Earnings for McCormick & Company, Incorporated are expected to grow by 3.67% in the coming year, from $3.00 to $3.11 per share. The P/E ratio of McCormick & Company, Incorporated is 31.15, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 22.49. The P/E ratio of McCormick & Company, Incorporated is 31.15, which means that it is trading at a less expensive P/E ratio than the Consumer Staples sector average P/E ratio of about 60.54. McCormick & Company, Incorporated has a PEG Ratio of 4.36. PEG Ratios above 1 indicate that a company could be overvalued. McCormick & Company, Incorporated has a P/B Ratio of 5.98. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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