The J.M. Smucker Company Rating Reiterated by Zacks (SJM)
The J.M. Smucker Company (NYSE:SJM)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Friday. They currently have a $110.00 price objective on the stock. Zacks‘s price objective points to a potential upside of 4.08% from the stock’s previous close.
Zacks’ analyst wrote, “J.M. Smucker posted soft results in the fourth quarter. Though earnings of $1.21 per share beat the Zacks Consensus Estimate, it declined 6% year over year, due to lower operating income and higher tax rate, partially offset by higher other income and lower interest expense. Revenues declined 8% due to a decline in K-cup sales and price decline taken during the fiscal 2013, largely in retail and foodservice coffee. The price declines also overshadowed the benefits of the Enray acquisition and a distribution agreement with Cumberland Packing Corp. The price declines also led to margin contraction in the quarter. However, with the recent announcement of increase in coffee prices, Smucker has provided a favorable view for fiscal 2015. We are also encouraged with the strong portfolio of brands, a solid innovation program, and promotional offerings, but the anticipation of lower volumes and currency headwinds keeps us on the sidelines.”
Several other analysts have also recently commented on the stock. Analysts at RBC Capital reiterated a “positive” rating on shares of The J.M. Smucker Company in a research note on Tuesday. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of The J.M. Smucker Company in a research note on Monday. They now have a $102.00 price target on the stock, up previously from $98.00. Finally, analysts at Goldman Sachs upgraded shares of The J.M. Smucker Company from a “sell” rating to a “neutral” rating in a research note on Thursday, May 8th. They now have a $102.00 price target on the stock, up previously from $91.00. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $109.36.
The J.M. Smucker Company (NYSE:SJM) traded up 1.32% on Friday, hitting $105.69. 654,537 shares of the company’s stock traded hands. The J.M. Smucker Company has a one year low of $87.10 and a one year high of $114.72. The stock has a 50-day moving average of $99.14 and a 200-day moving average of $99.02. The company has a market cap of $10.959 billion and a price-to-earnings ratio of 19.12.
The J.M. Smucker Company (NYSE:SJM) last posted its quarterly earnings results on Thursday, June 5th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.05. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. On average, analysts predict that The J.M. Smucker Company will post $5.98 earnings per share for the current fiscal year.
The J. M. Smucker Company operates principally in the manufacturing and marketing of branded food products.
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