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Insights Into McCormick (MKC) Q3: Wall Street Projections for Key Metrics
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Wall Street analysts expect McCormick (MKC - Free Report) to post quarterly earnings of $0.68 per share in its upcoming report, which indicates a year-over-year increase of 4.6%. Revenues are expected to be $1.66 billion, down 1.2% from the year-ago quarter.
Over the last 30 days, there has been an upward revision of 0.2% 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.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
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 expect 'Net Sales- Flavor Solutions' to come in at $734.15 million. The estimate suggests a change of -1.8% year over year.
It is projected by analysts that the 'Net Sales- Consumer' will reach $926.75 million. The estimate indicates a change of -1.1% from the prior-year quarter.
The combined assessment of analysts suggests that 'Operating income excluding special charges and transaction and integration expenses- Flavor Solutions' will likely reach $90.23 million. Compared to the current estimate, the company reported $77.80 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Operating income excluding special charges and transaction and integration expenses- Consumer' should arrive at $173.42 million. The estimate is in contrast to the year-ago figure of $173.30 million.
Over the past month, shares of McCormick have returned +4.6% versus the Zacks S&P 500 composite's +1.7% change. Currently, MKC carries a Zacks Rank #2 (Buy), suggesting that it may 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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Insights Into McCormick (MKC) Q3: Wall Street Projections for Key Metrics
Wall Street analysts expect McCormick (MKC - Free Report) to post quarterly earnings of $0.68 per share in its upcoming report, which indicates a year-over-year increase of 4.6%. Revenues are expected to be $1.66 billion, down 1.2% from the year-ago quarter.
Over the last 30 days, there has been an upward revision of 0.2% 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.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
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 expect 'Net Sales- Flavor Solutions' to come in at $734.15 million. The estimate suggests a change of -1.8% year over year.
It is projected by analysts that the 'Net Sales- Consumer' will reach $926.75 million. The estimate indicates a change of -1.1% from the prior-year quarter.
The combined assessment of analysts suggests that 'Operating income excluding special charges and transaction and integration expenses- Flavor Solutions' will likely reach $90.23 million. Compared to the current estimate, the company reported $77.80 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Operating income excluding special charges and transaction and integration expenses- Consumer' should arrive at $173.42 million. The estimate is in contrast to the year-ago figure of $173.30 million.
View all Key Company Metrics for McCormick here>>>
Over the past month, shares of McCormick have returned +4.6% versus the Zacks S&P 500 composite's +1.7% change. Currently, MKC carries a Zacks Rank #2 (Buy), suggesting that it may outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>