J. M. Smucker (NYSE:SJM) Updates FY 2023 Earnings Guidance

J. M. Smucker (NYSE:SJMGet Rating) updated its FY 2023 earnings guidance on Tuesday. The company provided earnings per share guidance of $7.85-$8.25 for the period, compared to the consensus earnings per share estimate of $8.91. The company issued revenue guidance of $8.28 billion-$8.36 billion, compared to the consensus revenue estimate of $8.01 billion.

Several analysts have issued reports on SJM shares. Credit Suisse Group decreased their price objective on shares of J. M. Smucker from $140.00 to $130.00 and set a neutral rating for the company in a research note on Wednesday, March 2nd. Morgan Stanley cut their price objective on shares of J. M. Smucker from $130.00 to $117.00 and set an underweight rating on the stock in a report on Wednesday, March 2nd. JPMorgan Chase & Co. lowered their target price on shares of J. M. Smucker from $144.00 to $143.00 and set a neutral rating for the company in a research note on Wednesday, March 2nd. UBS Group lifted their price objective on shares of J. M. Smucker to $124.00 in a research note on Thursday, June 9th. Finally, StockNews.com started coverage on shares of J. M. Smucker in a research note on Thursday, March 31st. They set a hold rating for the company. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $132.27.

SJM stock opened at $122.22 on Tuesday. The stock has a market capitalization of $13.26 billion, a P/E ratio of 20.96, a P/E/G ratio of 12.66 and a beta of 0.28. The firm has a 50-day simple moving average of $133.51 and a 200-day simple moving average of $135.05. The company has a quick ratio of 0.47, a current ratio of 1.03 and a debt-to-equity ratio of 0.53. J. M. Smucker has a 52 week low of $118.55 and a 52 week high of $146.74.

J. M. Smucker (NYSE:SJMGet Rating) last released its earnings results on Tuesday, June 7th. The company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.35. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.98 billion. J. M. Smucker had a net margin of 7.90% and a return on equity of 11.71%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.89 earnings per share. On average, analysts expect that J. M. Smucker will post 8.4 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 13th were given a dividend of $0.99 per share. The ex-dividend date was Thursday, May 12th. This represents a $3.96 dividend on an annualized basis and a yield of 3.24%. J. M. Smucker’s payout ratio is presently 67.92%.

Large investors have recently bought and sold shares of the business. Ulland Investment Advisors LLC acquired a new position in J. M. Smucker in the 4th quarter valued at about $31,000. Richwood Investment Advisors LLC acquired a new position in J. M. Smucker in the 4th quarter valued at about $58,000. Zullo Investment Group Inc. acquired a new position in J. M. Smucker in the 4th quarter valued at about $90,000. Centaurus Financial Inc. acquired a new position in shares of J. M. Smucker in the 1st quarter worth approximately $138,000. Finally, Covestor Ltd boosted its position in shares of J. M. Smucker by 57.5% during the 1st quarter. Covestor Ltd now owns 1,263 shares of the company’s stock worth $171,000 after purchasing an additional 461 shares during the period. Institutional investors own 83.02% of the company’s stock.

About J. M. Smucker (Get Rating)

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, shortening and oils, and frozen sandwiches; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking ingredient.

Read More

Earnings History and Estimates for J. M. Smucker (NYSE:SJM)

Receive News & Ratings for J. M. Smucker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J. M. Smucker and related companies with MarketBeat.com's FREE daily email newsletter.