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McCormick (MKC) Dips More Than Broader Markets: What You Should Know
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McCormick (MKC - Free Report) closed at $123.18 in the latest trading session, marking a -1.29% move from the prior day. This change lagged the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.08%, and the tech-heavy Nasdaq lost 0.36%.
Heading into today, shares of the spices and seasonings company had lost 11.06% over the past month, lagging the Consumer Staples sector's gain of 6.23% and the S&P 500's gain of 8.17% in that time.
Investors will be hoping for strength from MKC as it approaches its next earnings release. In that report, analysts expect MKC to post earnings of $1.05 per share. This would mark year-over-year growth of 5%. Meanwhile, our latest consensus estimate is calling for revenue of $1.24 billion, up 0.22% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.25 per share and revenue of $5.50 billion. These totals would mark changes of +5.63% and +1.74%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for MKC. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.34% lower. MKC is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, MKC currently has a Forward P/E ratio of 23.78. Its industry sports an average Forward P/E of 16.36, so we one might conclude that MKC is trading at a premium comparatively.
Also, we should mention that MKC has a PEG ratio of 2.64. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Food - Miscellaneous was holding an average PEG ratio of 2.17 at yesterday's closing price.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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McCormick (MKC) Dips More Than Broader Markets: What You Should Know
McCormick (MKC - Free Report) closed at $123.18 in the latest trading session, marking a -1.29% move from the prior day. This change lagged the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.08%, and the tech-heavy Nasdaq lost 0.36%.
Heading into today, shares of the spices and seasonings company had lost 11.06% over the past month, lagging the Consumer Staples sector's gain of 6.23% and the S&P 500's gain of 8.17% in that time.
Investors will be hoping for strength from MKC as it approaches its next earnings release. In that report, analysts expect MKC to post earnings of $1.05 per share. This would mark year-over-year growth of 5%. Meanwhile, our latest consensus estimate is calling for revenue of $1.24 billion, up 0.22% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.25 per share and revenue of $5.50 billion. These totals would mark changes of +5.63% and +1.74%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for MKC. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.34% lower. MKC is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, MKC currently has a Forward P/E ratio of 23.78. Its industry sports an average Forward P/E of 16.36, so we one might conclude that MKC is trading at a premium comparatively.
Also, we should mention that MKC has a PEG ratio of 2.64. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Food - Miscellaneous was holding an average PEG ratio of 2.17 at yesterday's closing price.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.