Results: McCormick & Company, Incorporated Beat Earnings Expectations And Analysts Now Have New Forecasts
Results: McCormick & Company, Incorporated Beat Earnings Expectations And Analysts Now Have New Forecasts
Investors in McCormick & Company, Incorporated (NYSE:MKC) had a good week, as its shares rose 3.3% to close at US$70.94 following the release of its quarterly results. Revenues were US$1.6b, approximately in line with expectations, although statutory earnings per share (EPS) performed substantially better. EPS of US$0.68 were also better than expected, beating analyst predictions by 15%. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
McCormick & Company, Incorporated (NYSE:MKC)的投資者在這周表現良好，由於公司發佈季度成果，其股價上漲3.3%，報收於70.94美元。營業收入爲16億美元，與預期基本一致，而每股收益（EPS）表現明顯更好。美國公認會計准則計算的每股收益爲0.68美元，也好於預期，並超過分析師預測的15%。對於投資者來說，收益是一個重要的時間點，因爲他們可以追蹤公司的業績，查看分析師對明年的預測，並查看市場對該公司情緒是否有變化。我們認爲讀者會發現，看到分析師對明年最新（公認會計准則）收益的預測很有趣。
Taking into account the latest results, McCormick's 15 analysts currently expect revenues in 2024 to be US$6.68b, approximately in line with the last 12 months. Per-share earnings are expected to increase 2.4% to US$2.82. In the lead-up to this report, the analysts had been modelling revenues of US$6.68b and earnings per share (EPS) of US$2.84 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.
考慮到最新的業績，McCormick的15位分析師目前預計2024年的營業收入將達到66.8億美元，與過去12個月基本一致。每股收益預計將增長2.4%至2.82美元。在此報告發布之前，分析師的營業收入和每股收益預測分別爲2024年的66.8億美元和2.84美元。共識分析師似乎沒有看到這些結果中的任何影響，這可能是因爲這些估計並沒有發生重大變化。
It will come as no surprise then, to learn that the consensus price target is largely unchanged at US$74.82. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic McCormick analyst has a price target of US$93.00 per share, while the most pessimistic values it at US$60.00. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.
那麼，毫無疑問，共識價格目標基本保持不變，即爲74.82美元。共識價格目標僅爲個別分析師目標的平均值，因此，查看底層估計範圍的廣度可能非常方便。最樂觀的McCormick分析師將股票價格目標定爲每股93.00美元，而最悲觀的價格爲每股60.00美元。這些價格目標表明，分析師對該業務存在一些不同的看法，但估計並不足以證明有人在賭博式地期待成功或絕對失敗。
Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. We would highlight that revenue is expected to reverse, with a forecast 0.2% annualised decline to the end of 2024. That is a notable change from historical growth of 5.3% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 3.0% per year. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - McCormick is expected to lag the wider industry.
現在從更大的角度來看，我們可以通過將這些預測與過去的業績和行業增長預測進行比較來理解這些預測的意義。我們想強調的是，預計收入將出現反轉，到2024年底預計年化下降0.2%。那是與過去五年5.3%的歷史增長相比有顯著變化的。將其與我們的數據進行比較，其它同行業公司預計收入年增長率爲3.0%。因此，儘管預測營收將下降，但這片陰雲並沒有銀色的襯裏 - McCormick預計將落後於更廣泛的行業。
The Bottom Line
最重要的事情是分析師增加了它對下一年每股虧損的估計。令人欣慰的是，營收預測未發生重大變化，業務仍有望比整個行業增長更快。共識價格目標穩定在28.50美元，最新估計不足以對價格目標產生影響。
The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. The consensus price target held steady at US$74.82, with the latest estimates not enough to have an impact on their price targets.
最明顯的結論是，最近沒有發生業務前景的重大變化，分析師持穩定的盈利預測，與上次的預測一致。好的一面是，收入預測沒有發生重大變化，儘管預測表明他們的表現將比整個行業差。共識價格目標穩定在74.82美元，而最新估值並不能對其價格目標產生影響。
With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for McCormick going out to 2026, and you can see them free on our platform here..
話雖如此，公司收益的長期軌跡比明年至關重要。在Simply Wall St，我們擁有McCormick到2026年的完整分析師預測範圍，並且您可以在此平台上免費查看這些預測。
You should always think about risks though. Case in point, we've spotted 1 warning sign for McCormick you should be aware of.
不過，您應該始終考慮風險。換句話說，我們發現了一項關於McCormick的1項警告信號，您應該注意這一點。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者，發送電子郵件至editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。
譯文內容由第三人軟體翻譯。