McCormick & Co. (MKC) Announces Quarterly Earnings Results, Misses Estimates By $0.07 EPS
McCormick & Co. (NYSE:MKC) released its earnings data on Wednesday. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by $0.07, Stock Ratings Network reports. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.22 billion.
A number of research firms have recently commented on MKC. Analysts at Jefferies Group downgraded shares of McCormick & Co. from a “buy” rating to a “hold” rating in a research note to investors on Thursday, January 16th. They now have a $74.00 price target on the stock, down previously from $76.00. Analysts at Zacks reiterated a “neutral” rating on shares of McCormick & Co. in a research note to investors on Tuesday, November 12th. They now have a $73.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $73.25.
McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industry, retail outlets, food manufacturers and foodservice businesses.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.