McCormick & Company, Incorporated (NYSE:MKC) is reporting second quarter financial results on Thursday 25th June 2020, before market open.
According to analysts surveyed by Thomson Reuters, MKC is expected to report 2Q20 income of $ 1.12 per share from revenue of $ 1346.62 million.
For the full year, analysts anticipate top line of $ 5391.21 million, while looking forward to income of $ 5.23 per share bottom line.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 5,454.00 million ~ $ 5,561.00 million, where as bottomline are predicted in a range of $ 5.20 ~ $ 5.30 per share
Historical Earnings Performance
The pervious quarter 1Q20 results surpassed street expectation, the report interpreted income of $ 1.08 per share from the top line of $ 1,212.00 million, analysts anticipated $ 1.03 per share
In the same quarter last year, the 2Q19 results surpassed street view, the report represented earnings of $ 1.16 per share from the revenues of $ 1,301.90 million, analysts expected $ 1.08 per share
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Stock Performance
According to the previous trading day, closing price of MKC was $ 172.27, representing a 53.50 % increase from the 52 week low of $ 112.23 and a 4.5 % decrease over the 52 week high of $ 180.38.
The company has a market capital of $ 22.91 billion and is part of the Consumer Defensive sector and Packaged Foods industry.
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Recent Analyst recommendations
On 1st June 2020, maintained by Deutsche Bank at Hold rating, with $ 128.00 target price.
On 14th May 2020, upgraded by Credit Suisse Group to Outperform from Neutral rating, with $ 187.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.62 per share on June 23, 2020. The dividend were payable on July 20, 2020 to holders of record as of the close of business on July 6, 2020 and ex-dividend date on July 2, 2020.
The board of directors has authorized quarterly dividend of $ 0.62 per share on April 1, 2020. The dividend were payable on April 27, 2020 to holders of record as of the close of business on April 13, 2020 and ex-dividend date on April 9, 2020.
Conference Call
McCormick & Company, Incorporated will be hosting a conference call at 8:00 AM eastern time on 25th June 2020, to discuss its 2Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website edge.media-server.com/mmc/p/nck3nf2g
McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.
