McCormick (MKC) closed the most recent trading day at $128.75, moving +0.99% from the previous trading session. This change lagged the S&P 500's 1.29% gain on the day. Meanwhile, the Dow gained 1.49%, and the Nasdaq, a tech-heavy index, added 1.46%.
Coming into today, shares of the spices and seasonings company had lost 8.54% in the past month. In that same time, the Consumer Staples sector gained 5.28%, while the S&P 500 gained 4.57%.
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 $1.05 per share. This would mark year-over-year growth of 5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.24 billion, up 0.22% from the year-ago period.
MKC's full-year Zacks Consensus Estimates are calling for earnings of $5.25 per share and revenue of $5.50 billion. These results would represent year-over-year changes of +5.63% and +1.74%, respectively.
Investors should also note any 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.34% lower within the past month. MKC is currently a Zacks Rank #3 (Hold).
Digging into valuation, MKC currently has a Forward P/E ratio of 24.29. This represents a premium compared to its industry's average Forward P/E of 16.19.
Also, we should mention that MKC has a PEG ratio of 2.7. 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 2.04 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 178, which puts it in the bottom 31% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
McCormick & Company, Incorporated (NYSE:MKC): Get Free Report
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