McCormick & Co. (MKC) Reports Q3, Reaffirms FY24 Outlook
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McCormick & Company (MKC) PT Raised to $96 at BofA Securities
October 2, 2024 6:59 AM EDTBofA Securities analyst Peter Galbo raised the price target on McCormick & Company (NYSE: MKC) to $96.00 (from $95.00) while maintaining a Buy rating.
The analyst comments "Yesterday, MKC reported 3Q24 earnings above street driven by better gross and operating margin. MKC also raised its FY24... More
Goldman Sachs Reiterates Sell Rating on McCormick & Company (MKC)
October 2, 2024 5:34 AM EDTGoldman Sachs analyst Adam Samuelson reiterated a Sell rating and $67.00 price target on McCormick & Company (NYSE: MKC).
The analyst comments "MKC reported adjusted FY3Q24 (Aug) EPS of $0.83, above GSe/Refinitiv consensus of $0.67. Sales of $1.68bn were 2.0% above our estimate, with constant currency sales growth of 0.0% 40bps above our -0.4% forecast and a smaller FX headwind (-0.4% vs. GSe -1.9%) the primary driver of the sales upside. Adjusted EBIT of $288mn was 9.1% above our forecasts (+$0.07), with stronger margins in both segments contributing. Gross margins of... More
Citi Reiterates Neutral Rating on McCormick & Company (MKC)
October 2, 2024 5:33 AM EDTCiti analyst Thomas Palmer reiterated a Neutral rating and $88.00 price target on McCormick & Company (NYSE: MKC).
The analyst comments "The MKC shares were +1% at time of writing (vs. S5PACK flat) following a sizable 3Q24 EPS beat, but annual sales/EPS outlooks... More
McCormick & Company (MKC) PT Raised to $86 at Jefferies
October 1, 2024 4:13 PM EDTJefferies analyst Rob Dickerson raised the price target on McCormick & Company (NYSE: MKC) to $86.00 (from $85.00) while maintaining a Hold rating.
The analyst comments "Positive vol/mix encouraging with momentum into Q4. MKC posted + y/y vol/mix for the first quarter in... More
CFRA Downgrades McCormick & Company (MKC) to Buy
October 1, 2024 1:10 PM EDTCFRA analyst Arun Sundaram downgraded McCormick & Company (NYSE: MKC) from Strong Buy to Buy with a price target of $93.00 (from $88.00).
The analyst comments "We lift our 12-month target by $8 to $93, 29.1x our FY 25 (Nov.) EPS estimate of $3.20 (up from $3.16; FY 24 up to $3.00 from $2.90) and in line with its... More
