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Fly News Breaks for June 30, 2017
MKC
Jun 30, 2017 | 07:42 EDT
Credit Suisse analyst Robert Moskow said he was surprised by the negative reaction in McCormick shares following the company's Q2 report and reiteration of its FY17 earnings outlook. He thinks strong volume growth, international price increases and easier gross margin comparisons will drive Q3 results and give management sufficient visibility to raise its earnings guidance at that time. The analyst, who notes that his $4.53 EPS estimate for 2018 is well above consensus, keeps an Outperform rating on McCormick shares.
News For MKC From the Last 2 Days
MKC
Mar 27, 2024 | 07:29 EDT
TD Cowen analyst Robert Moskow raised the firm's price target on McCormick to $75 from $67 and keeps a Hold rating on the shares. The firm said McCormick reported 1Q sales growth and EPS ahead of their expectations and Cowen's. Management also shifted sales guidance to the top half of its -1% to 1% range due to positive momentum in Americas Consumer from actions to narrow price gaps.
MKC
Mar 27, 2024 | 07:01 EDT
Stifel analyst Matthew Smith raised the firm's price target on McCormick to $75 from $70 and keeps a Hold rating on the shares after the company's stronger than expected Q1 report. The company noted that the first quarter performance and improving trends give it confidence in achieving the mid to high end of its sales growth target, noted the firm, which is raising its own sales growth and EPS estimates for the year to reflect Q1 results and improving momentum in the consumer business.
MKC
Mar 27, 2024 | 06:46 EDT
BofA analyst Peter Galbo raised the firm's price target on McCormick to $86 from $82 and keeps a Buy rating on the shares after the company reported Q1 earnings ahead of the Street consensus on better sales and margins. Management pointed to the high end of its organic sales range and "a seemingly conservative outlook for the rest of the year," says the analyst, who points to planned investor meetings with management in April, continued improvement in U.S. scanner data and Q2 earnings results due at the end of June as among catalysts going forward.
MKC
Mar 26, 2024 | 20:44 EDT
Citi raised the firm's price target on McCormick to $68 from $60 and keeps a Sell rating on the shares following the fiscal Q1 report. The firm says it is difficult to point to a nearer-term downside catalyst for the shares when the Q1 results were solid enough that McCormick was able to talk down Q2 expectations without weighing on the shares. In addition, McCormick could soon start to benefit from a variety of company-specific initiatives to drive higher sales, .the analyst tells investors in a research note. The firm cites valuation and "lofty" earnings expectations for the Sell rating.
MKC
Mar 26, 2024 | 16:25 EDT
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MKC
Mar 26, 2024 | 12:08 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
MKC
Mar 26, 2024 | 10:00 EDT
McCormick is up 9.0%, or $6.33 to $76.27.
MKC
Mar 26, 2024 | 09:56 EDT
Notable gainers among liquid option names this morning include Seagate (STX) $96.53 +8.33, McCormick (MKC) $75.66 +5.72, Constellation Energy (CEG) $198.70 +11.44, Tesla (TSLA) $182.50 +9.87, and Western Digital (WDC) $68.30 +3.31.
MKC
Mar 26, 2024 | 08:57 EDT
Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Krispy... To see the rest of the story go to thefly.com. See Story Here