Analysts on Wall Street project that McCormick (MKC) will announce quarterly earnings of $0.88 per share in its forthcoming report, representing an increase of 10% year over year. Revenues are projected to reach $1.85 billion, increasing 2.6% from the same quarter last year.
Over the last 30 days, there has been a downward revision of 2.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific McCormick metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the 'Net Sales- Flavor Solutions' will reach $725.28 million. The estimate points to a change of +1.7% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Net Sales- Consumer' of $1.12 billion. The estimate indicates a year-over-year change of +2.8%.
Analysts' assessment points toward 'Operating income excluding special charges and transaction and integration expenses- Flavor Solutions' reaching $93.29 million. The estimate is in contrast to the year-ago figure of $80.00 million.
It is projected by analysts that the 'Operating income excluding special charges and transaction and integration expenses- Consumer' will reach $241.22 million. The estimate is in contrast to the year-ago figure of $228.00 million.
View all Key Company Metrics for McCormick here>>>
Shares of McCormick have experienced a change of +0.4% in the past month compared to the +2% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), MKC is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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McCormick & Company, Incorporated (MKC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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