McCORMICK REPORTS THIRD QUARTER PERFORMANCE AND REAFFIRMS 2024 OUTLOOK
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Goldman Sachs Reiterates Sell Rating on McCormick & Company (MKC)
October 2, 2024 5:34 AM EDTGoldman Sachs analyst Adam Samuelson reiterated a Sell rating and $67.00 price target on McCormick & Company (NYSE: MKC).
The analyst comments "MKC reported adjusted FY3Q24 (Aug) EPS of $0.83, above GSe/Refinitiv consensus of $0.67. Sales of $1.68bn were 2.0% above our estimate, with constant currency sales growth of 0.0% 40bps above our -0.4% forecast and a smaller FX headwind (-0.4% vs. GSe -1.9%) the primary driver of the sales upside. Adjusted EBIT of $288mn was 9.1% above our forecasts (+$0.07), with stronger margins in both segments contributing. Gross margins of... More
Citi Reiterates Neutral Rating on McCormick & Company (MKC)
October 2, 2024 5:33 AM EDTCiti analyst Thomas Palmer reiterated a Neutral rating and $88.00 price target on McCormick & Company (NYSE: MKC).
The analyst comments "The MKC shares were +1% at time of writing (vs. S5PACK flat) following a sizable 3Q24 EPS beat, but annual sales/EPS outlooks... More
McCormick & Company (MKC) PT Raised to $86 at Jefferies
October 1, 2024 4:13 PM EDTJefferies analyst Rob Dickerson raised the price target on McCormick & Company (NYSE: MKC) to $86.00 (from $85.00) while maintaining a Hold rating.
The analyst comments "Positive vol/mix encouraging with momentum into Q4. MKC posted + y/y vol/mix for the first quarter in... More
CFRA Downgrades McCormick & Company (MKC) to Buy
October 1, 2024 1:10 PM EDTCFRA analyst Arun Sundaram downgraded McCormick & Company (NYSE: MKC) from Strong Buy to Buy with a price target of $93.00 (from $88.00).
The analyst comments "We lift our 12-month target by $8 to $93, 29.1x our FY 25 (Nov.) EPS estimate of $3.20 (up from $3.16; FY 24 up to $3.00 from $2.90) and in line with its... More
