McCormick & Company, Incorporated (NYSE:MKC) Issues FY 2021 Earnings Guidance

McCormick & Company, Incorporated (NYSE:MKC) updated its FY 2021 earnings guidance on Thursday. The company provided EPS guidance of $2.970-$3.020 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.020. The company issued revenue guidance of $6.27 billion-$6.33 billion, compared to the consensus revenue estimate of $6.30 billion.

Shares of NYSE MKC opened at $78.89 on Thursday. The firm has a 50-day simple moving average of $84.63 and a 200-day simple moving average of $87.09. The stock has a market capitalization of $21.09 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 4.13 and a beta of 0.48. The company has a quick ratio of 0.38, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. McCormick & Company, Incorporated has a 52 week low of $77.85 and a 52 week high of $100.99.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Wednesday, September 29th. The company reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.08. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.54 billion. McCormick & Company, Incorporated had a net margin of 12.48% and a return on equity of 19.50%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 earnings per share. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 3.03 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 26th. Stockholders of record on Tuesday, October 12th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Friday, October 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 48.06%.

Several equities research analysts recently issued reports on MKC shares. Credit Suisse Group cut their price objective on shares of McCormick & Company, Incorporated from $100.00 to $98.00 and set an outperform rating for the company in a research report on Friday, October 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of McCormick & Company, Incorporated from $91.00 to $89.00 and set a hold rating for the company in a research report on Friday, October 1st. Finally, Stifel Nicolaus restated a hold rating and set a $89.00 price objective on shares of McCormick & Company, Incorporated in a research report on Friday, July 2nd.

In other McCormick & Company, Incorporated news, Director Freeman A. Hrabowski III sold 2,870 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, August 20th. The shares were sold at an average price of $87.50, for a total transaction of $251,125.00. Following the completion of the sale, the director now directly owns 92,983 shares in the company, valued at $8,136,012.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.90% of the stock is owned by company insiders.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacture, market and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses. It operates through the following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.

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Earnings History and Estimates for McCormick & Company, Incorporated (NYSE:MKC)

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