On Oct 02, major Wall Street analysts update their ratings for $McCormick & Co (MKC.US)$, with price targets ranging from $69 to $96.
Goldman Sachs analyst Adam Samuelson maintains with a sell rating, and sets the target price at $69.
BofA Securities analyst Peter Galbo maintains with a buy rating, and adjusts the target price from $95 to $96.
Barclays analyst Andrew Lazar maintains with a hold rating, and adjusts the target price from $76 to $85.
Jefferies analyst Robert Dickerson maintains with a hold rating, and adjusts the target price from $74 to $86.
TD Cowen analyst Robert Moskow maintains with a hold rating, and adjusts the target price from $73 to $86.
Furthermore, according to the comprehensive report, the opinions of $McCormick & Co (MKC.US)$'s main analysts recently are as follows:
The company's Q3 earnings surpassed expectations, bolstered by improved gross and operating margins, leading to an enhanced financial outlook for FY24. Post-report and guidance, there's an increased projection for FY24 adjusted EPS.
McCormick's Q3 results surpassed expectations, although the substantial part of the outperformance was due to tax, foreign exchange, and the deferral of SG&A / IT investments to Q4. Additionally, the company's management highlighted a softer-than-anticipated consumer response in China, with the APAC region being the only one without volume growth.
McCormick recorded a robust 3Q EPS surpassing expectations, and management has adjusted its FY24 projections upward to account for a specific tax advantage. The organic sales growth was noted as modest at only 0.4%.
Following McCormick's report of a robust third quarter, with earnings per share growth of 28%, which surpassed estimates by 17 cents including beneficial factors from certain items and a stronger than anticipated margin expansion, the company's yearly guidance reaffirmed its commitment to achieving the mid-to-high end of its sales growth projection. Consequently, the anticipated earnings per share for the fiscal year have been adjusted.
Here are the latest investment ratings and price targets for $McCormick & Co (MKC.US)$ from 6 analysts:
Note:
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