McCormick (MKC - Free Report) closed at $172.74 in the latest trading session, marking a +0.44% move from the prior day. This change outpaced the S&P 500's 0.32% loss on the day. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 0.4%.
Coming into today, shares of the spices and seasonings company had gained 7.21% in the past month. In that same time, the Consumer Staples sector gained 2.59%, while the S&P 500 gained 2.51%.
Wall Street will be looking for positivity from MKC as it approaches its next earnings report date. In that report, analysts expect MKC to post earnings of $1.64 per share. This would mark a year-over-year decline of 1.8%. Meanwhile, our latest consensus estimate is calling for revenue of $1.51 billion, up 0.59% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for MKC. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. MKC is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, MKC currently has a Forward P/E ratio of 30.46. This valuation marks a premium compared to its industry's average Forward P/E of 18.84.
Also, we should mention that MKC has a PEG ratio of 3.81. 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. MKC's industry had an average PEG ratio of 2.46 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.